by Ok 1Q is over and Treasury projected their balance at quarter end to be 0B here:Well let’s see how they did here:Oh , only off by 0B .... a mere bag of shells.... AND they deposit 9B from securities issuance while withdrawing only 0B redeeming securities on the last day to make their miss EVEN WORSE right at the end.... what kind of dopes do we have working there?Usually if you want the account balance to reduce you have to withdraw MORE than you deposit... that’s the way it usually works for the rest of us....Then they scratch their heads and wonder why US rates are higher than ROW out the curve.. meanwhile they have over issued and are maintaining a financed balance of Treasury securities accounts >T in the non-govt sector that nobody in the non-govt wants or
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Ok 1Q is over and Treasury projected their balance at quarter end to be $800B here:
Well let’s see how they did here:
Oh , only off by $300B .... a mere bag of shells.... AND they deposit $259B from securities issuance while withdrawing only $120B redeeming securities on the last day to make their miss EVEN WORSE right at the end.... what kind of dopes do we have working there?
Usually if you want the account balance to reduce you have to withdraw MORE than you deposit... that’s the way it usually works for the rest of us....
Then they scratch their heads and wonder why US rates are higher than ROW out the curve.. meanwhile they have over issued and are maintaining a financed balance of Treasury securities accounts >$1T in the non-govt sector that nobody in the non-govt wants or needs...
When are we going to get some competent people in there?