RBS: “The Fed Is Now Responsible For Monetizing A Record 70% Of All Net Bond Supply”

RBS: "TheFedIsNowResponsibleForMonetizing A Record 70% OfAllNetBondSupply"

The following statement and chart from the RBS’ Drew Brick pretty much explains it all: "QE has seen the Fed extend its dominion on the US curve away from the short-end and into longer duration paper is patent, too. On a rolling six-month average, in fact, theFedisnowresponsibleformonetizing a record 70% ofallnetsupplymeasuredin 10y equivalents. Thisrepresents a relianceontheFedthatisgreaterthaneverbeforeinhistory!"

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