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0 sats \ 4 replies \ @siggy47 5 Oct 2023 \ on: How the Bank Term Funding Program Enables Sneaky Backdoor Quantitative Easing bitcoin
It's also interesting that all this tightening is supposed to be shrinking the fed's balance sheet, and yet the debt held continues to increase. There is also a suspicion that unannounced buying by the fed has been keeping treasury yields "in check." The BTFP is probably keeping a few banks afloat right now.
yet the debt held continues to increase
Link? This chart makes it look like the amount of debt they hold is falling:
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I think I was mistaken. I believe that referred to balance sheet expansion, not assets (debt) held.
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The selloff is actually kind of concerning. Long term treasuries are now being issued with ridiculous interest rates:
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I don't personally think 5% is all that ridiculous
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