@AndreasSteno@fejau_inc Sure u need FED rmps to actually create new $s but this ignores how tbills are considered more pristine collateral than bonds and that the fed inevitably will step in if there is an oversupply..agreed the 2nd step is yet to come but to ignore..questionable analysis id say
@AndreasSteno@fejau_inc@AndreasSteno how come then the 2023 bill financing had such a positive liquidity risk asset backdrop? To say changing duration does not have a lqiduity positive effect seems to be throwing the baby out with the bathwater?