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Return Of The Bull Market? | On The Margin Round Up

Forward Guidance

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Why Have Things Been Rallying So Hard?

Felix Ulf: I think a question I'd like to explore is why have we been rallying so hard? He says the debt ceiling caused the US Treasury to not issue Treasury bills. That prevented money that would normally not be in the financial system from being taken out, he says. The Fed's rolling off its balance sheet was very slow because mortgage backed securities were pre-paid and are now extending their maturities. And inflation has actually fallen; there's a chart if you can go to slide one of your slides.

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