Treasury Market Liquidity

As the federal reserve is aggressively raised interest rates foreign sectors stopped buying banks have stopped buying and the Fed is selling treasuries. The result has been unusually high levels of volatility and illiquidity in the treasury market Joseph can you give us a little bit of a year review for treasuries their current context and what we can expect next year if Powell does pivot or if rates are sustained for a long period of time? Lynn: I think one of the big reasons is there's just this tremendous mismatch between supply and demand well as you mentioned earlier now a lot of the marginal buyers in the market have have stepped out for the past couple years so they're searching for a new marginal buyer it

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