The Fed's Double Tightening

The Fed's balance sheet is about $9 trillion. To get back to normal, that would look something like $3 trillion over the next few years. Can the market handle that supply? Do you agree with Joseph that that's going to be exert further downward pressure on treasuries? I'm very skeptical they're going to be able to go all the way. Eventually something is going to break and something always breaks as George noted.