This is BlackRock Jay’s idea of “tightening”
Still irritating that these guys have more treasuries and a lot more MBS than they did even a year ago, when official CPI was already 6.8%, and Case-Shiller was running at 18.8% YOY. This QT is really roaring along.@federalreserve pic.twitter.com/JsNpvwsqQZ …