Rafi Farber: Bondmageddon Bleeds Central Bank Balance Sheets

What happens when you force the global financial system to buy trillions of your own bonds, and then you hike interest rates 325bps in 8 months? The bonds these are institutions stuffed with, including the central banks themselves, start to bleed badly. In other words, the paper assets that back their units of liability, AKA […]

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