Treasury Upsizes Buybacks to $6B but Markets Want More, CYPH Reversal Suggests Possible Consolidation Required

The big catalyst today was the Treasury's announcement of a $6B long-end liquidity support buyback, above the $4B level indicated in August. Recall that the mid-August move off the crypto lows coincided with Treasury signaling a more active approach to duration management, what we have characterized as a Treasury Twist or "YCC-lite." The basic idea is to actively remove duration from the market while financing more...

Finish reading this report for free

Enter your email and we'll send the paywall-free report directly to your inbox

Articles Read: 1/2

By continuing, you agree to the Terms of Service and Privacy Policy.

In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time.

Get unlimited access to Tom Lee's Fundstrat research Subscribe
Already a member? Log in
Disclosures (show)

Events

Trending crypto assets in our research