Understand the money and machinerybehind the headlines
In Lay Terms publishes three standing series. Every explanation belongs to one.
The government is expanding an existing bond-buyback programme. It may improve liquidity and reduce some long-duration pressure — but it is not QE, and Treasury still cannot set the 30-year yield.
The 30-year Treasury yield is near its highest level since 2007. Here’s the distinction that matters: the Fed sets the price of overnight money. Investors decide what return they need to lend for decades.
This series has no published explanations yet. It will list them here as they are released.
This series has no published explanations yet. It will list them here as they are released.