Is This a Trampoline Landing? With Vincent Deluard
Real Vision: Finance & Investing
00:00
The Prime Minister's Budget and Pension Firms
We have very bad liquidity at the long end. The treasury just announced actually that they would start hitting that 10, 23 year again. And I doubt that we'll see a lot of buyer at this duration. We stuffed treasuries down the throats of our regional banks and banks in general. By them, they're risk-free. But then we freeze it with the BTFP - where we basically told the banks, hey, don't sell your own term treasuries. It's really interesting and a little bit terrifying to think about that happening.
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