Enough with this nonsense by central bankers and their minions… Cost of servicing debt is exploding!

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Wall St: The Fed Has a $4T Balance-Sheet Dilemma and is in Total Denial

“Michael Cloherty, the head of U.S. interest rate strategy at RBC Capital Markets, is worried. ‘If the Fed keeps shrinking its balance sheet until it sees signs of stress, the question will be, ‘How ugly is that stress?’ I think it will be quite ugly.”

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