Mustafa Chowdhury on Mortgage Risks, Fed Shocks and Derivatives
Macro Hive Conversations With Bilal Hafeez
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Is There an Equivalent of Central Bank Buying in the 2000s That Leads to a Flatter Curve?
Central bank buying in the 2000s led to a flatter curve. Is there an equivalent today of its own flow that is keeping term premium low? It's puzzling because it's not as much of the central bank buying except for probably Japanese. So one could be just the fundamentals. This time is that we were going to get probably a coil into a hard landing and the fundamentals are that the Fed will eventually ease, he says.
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