Slow Money

Published on October 2, 2023 by Premium

Real money investors are unlikely to be the next marginal buyer of Treasuries as they have historically preferred other assets and are subject to certain constraints. Real money investors like pension funds and life insurers manage vast pools of assets and look for longer dated assets to match their longer dated liabilities. They appear to be natural buyers of Treasuries, but have in practice had little exposure even before the QE era. They may change […]

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