Liquidity Shock—The Next Leg Of The Donald’s Abominable Budget Deal

The Donald is about to get whacked good and hard by that which he already fears: A final blast of QT, but this time one with no dilutive offsets. That is, when the Fed drains its final $70 billion of quantitative tightening (QT) from the bond pits in August and September, it’s likely to be matched by another $300 billion cash drain orchestrated […]
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