Wherefore Art Thou Collateral?

By |2017-09-07T16:40:36-04:00September 7th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The US Treasury as a result of the government’s bloated response to the Great “Recession” has been forced in notes and bonds to reopen their auctions each and every month. Before then, reopenings were less frequent. They weren’t infrequent, but the Treasury wasn’t just auctioning 10s every month. In 2007, for example, the Department conducted four quarterly auctions and one [...]