Jay Powell better not be printing "only" $120B per month…
The government just borrowed $760B in May alone!
Second largest net issuance of Treasuries in history.
It dwarfed the Fed's stimulus by over $300B.
Let me spell it out for robinhood traders:
Not bullish for stocks. pic.twitter.com/YiLy6Czax9
— Otavio (Tavi) Costa (@TaviCosta) June 11, 2020