(1)

Liquidity driven by OMO is resulting in a temporary drop in short term rates.

(2)

It still appears as if the Federal Reserve central bank and branches are borrowing at the permanently higher rates

(3)

The borrowing at higher rates are resulting in driving the margin purchases of 10, 20, and 30 year bonds, leading to the constant upward push in the margin costs and the 13 week to 10 year spreads

(4)

The collateral is being omitted from the Federal Reserve central and member bank asset lists, via the fiction of the "loan" of the collateral.

(5)

Cash is being drained via this, from the Federal Reserve central bank, to the member banks and their private bank owners.

(6)

This is occurring as the newly obtained [ 9 - 10 / 2023 ] 10, 20, and 30 year are being relayed at premiums to the Federal Reserve central bank, by the member banks and their private owners.