Repos zilch, gone. Dollar liquidity swaps on their way out. SPVs flat for five weeks, but composition is changing. Treasuries edged up by smallest amount all year. MBS rose.
Fed leads in trimming its balance sheet; Now Bank of England governor publishes the reasoning for central banks to shed assets – before raising interest rates. A big shift!
I’m sharing this trade for your future entertainment so you can hail me as the obliterating moron that infamously shorted the greatest rally floating weightlessly ever higher above the worst economic and corporate crisis imaginable.