Dealer of Second to Last Resort

Published on August 7, 2023 by Premium

The Treasury's new buyback program will have a humble beginning, but tremendous potential to become an essential tool with far reaching impact. Treasury first hinted at a buyback program last August amidst concerns over poor Treasury market liquidity and finally decided to launch it next year. The most recent details indicate modest buyback amounts to both improve Treasury market liquidity and help the U.S. better manage its cash holdings. Treasury has explicitly dismissed any intention […]

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