“The treasury buyback program ... we’re going to buy back that 28-year bond ... and we’re going to issue treasury bills”
♫
Said on The Master Investor Podcast with Wilfred Frost
“He said, I'm going to buy $4 billion worth of stuff… then he increased it to $6 billion… buying the long stuff, issuing the short stuff, and the idea is it'll bring down the long-term rates.”
The Real Eisman Playbook · 5% Rates, Bessent's Failed Gamble & What Comes Next w/ Krishna Guha | The Real Eisman Playbook Ep 78
Play from 25:31
25:31
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What was described
Buy back longer-term high-yield Treasury bonds while issuing short-dated Treasury bills to fund the purchases
$4 billion initially, increased to $6 billion per operation
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 ·
“Scott Besant… buying $6 billion in bonds… you’re talking about $6 billion versus a $40 trillion treasury market… it seems like it’s clearly failed because long-term rates have marched significantly higher”
♫
Said on The Real Eisman Playbook
“I measure that in the data through the co-movement between bonds and stocks… pre-2000 Treasury bonds were actually quite stock-like… post-2000 they were safe… now risk has gone up again.”
CP
Carolin Pflueger and co-authors
Odd Lots ·
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