all 3 comments

[–]Cancelthis[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Consistent with OMO ratcheting up purchases of 20 and 30 year bonds for Federal Reserve Treasury accounts.

Also probably includes purchases, at this stage, by the European central banks, especially Spain, Portugal, and The Netherlands.

[–]Cancelthis[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Likely strongly induced from the Federal Reserve central banks instructions to the ECB and Portugal, Spain, and The Netherlands and Belgium central banks.

Question regarding this relationship in the 1798 to 1818 interval

[–]Cancelthis[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Question regarding this relationship in the 1798 to 1818 interval