The most interesting part about today's US Treasury intervention is the way it was worded.
"Treasury will provide more information about future buyback sizes on November 4th."
This is just the beginning.
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It's official.
On July 31st, we called for US government intervention as long-term borrowing costs hit 2008 levels.
Today, it happened. The US Treasury is DOUBLING buybacks to $4 billion per operation for "liquidity support."
What comes next? Let us explain.
(a thread)
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