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Today, Joe Biden shook hands with Gaige Grosskreutz, the felon who nearly murdered Kyle Rittenhouse and lied to the police about carrying an illegal firearm:
When the Fed did QT last time, banks could absorb a lot of the difference. However, US commercial banks now have the highest percentage of their assets in Treasuries in modern history.
The US needs the foreign bid for Treasuries to pick up, otherwise QT could get pretty awkward.
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