“Only recently did we think about setting up a treasury account and the operating account sweep… we were talking about saving on dumpster fees and credit card processing.”
TH
Tyler Hoffman
Acquiring Minds ·
“So that would buy us about six months of no issuance, while at the same time emptying the TGA, which releases liquidity in the economy, which historically has been very bullish for the yield curve.”
Vincent Deluar · Monetary Matters with Jack Farley · The Fed Put Is Dead: Why Stagflation & a Bear Market Are Next | Vincent Deluard | StoneX
The publisher’s audio link for this episode is not available. Find “The Fed Put Is Dead: Why Stagflation & a Bear Market Are Next | Vincent Deluard | StoneX” in any podcast app and go to 6:14.
What was described
empty the Treasury General Account (TGA) to fund about six months of no new Treasury issuance, releasing liquidity into the economy
about a trillion in the TGA; six months of no issuance; 100 basis points drop in yields when similar action was taken in late 2022
Said nearby on the same subject
“Total Fund Management… combine our asset allocation function with our treasury function. Asset allocation is what you want to buy. Treasury is how do you pay for it.”
OP
Ontario Teachers Pension Plan
Capital Allocators - Inside the Institutional Investment Industry ·
“At one point, we had about a 80% correlation on a one-month basis between two-year treasury yields and the price of oil.”
♫
Said on Monetary Matters with Jack Farley
“People will pay more for something which is liquid, even though the cash flows on those two treasury bills are exactly the same.”
AE
Alex Edmans
The Rational Reminder Podcast ·
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