BlackRock’s Brownback on Global Fixed Income: Macro Matters
FICC Focus
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The Wall of Money: Analyzing Fixed Income Dynamics
This chapter explores the vast liquidity in the U.S. economy, focusing on the disparity between the immense cash reserves in the private sector and the limited fixed income investment opportunities. It highlights the pressing need for reinvestment due to the significant annual cash generation that far outpaces the supply of yielding assets.
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