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The Real Vision Daily Briefing - QT on Steroids
Yellen was paying down the TGA to sterilize QT. This quarter has been a lot more long-term. The Fed will be forced to push duration out to the market. All those long-duration securities they hold, all that MBS they hold, is now going to have to be sold into the market. It's QT on steroids when you look at the duration channel.