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Will The Dollar’s Rise Crush Central Banks’ Plans?
Forward Guidance
The Trades of 2020: Why Foreign Investors Sold Treasuries
The Fed posted a report showing that foreign investors sold Treasuries during the March 2020 panic. This is something that I've just been obsessed over the fact that bonds are supposed to be a risk on as she's a risk off asset. And they did up until like March 9th of 2020, but from March 9th 2020 to March 23rd, they behaved as a risk on asset. They sold off alongside stocks alongside commodities and everything else. But if you look at their behavior afterwards, they started buying them back again. So it wasn't a regime change. What happened was there was kind of a real economy stress and people were worried and they wanted cash. In many places in the
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