How Uncertainty Affects Repo and Margin Requirements

Inflation is a nominal thing and asset prices are nominal. So I think it will feed in just because it makes the underlying nominal values of the collateral. The only pushback I would give on that, Joe, is that as you know, the treasury markets at the upside down pyramid,. Only so many on the run treasures that trade very actively. Jack D.F., the last chart, I have a portrait of what we could think of as one of the, the one out.