Treasury Doubled Long-Bond Buybacks: What That Can Change
A larger liquidity operation can improve Treasury market plumbing without resolving the inflation, deficit and term-premium questions keeping long yields elevated.
Research notebook
Macro & Policy
Rates, regulation, and rulings that reset the operating environment.
Published analysis
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A 9–3 Fed Hold Sets Up a High-Stakes Jackson Hole Speech
The July decision exposed an unusually wide policy split. Jackson Hole now becomes a test of how the Fed frames simultaneous inflation and growth risks.