Q&A #111
Why do we want Treasury supply to matter? Why doesn’t it? What are the mechanics which make interest rates fundamental? Is it left vs. right, or establishment vs. anti-establishment? How does the dollar fall during parts of Euro$ cycle periods? Why would anyone accept a lower fixed swap payment than coupon on a US Treasury? Did steel prices point out the global macro pivot in 2022? Why would that have been the dividing line for the supply shock era?
