The UK is ahead in the tightening cycle.

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See also  *UPDATE* Second week of "Quantitative Tightening" and FED INCREASED its ~$9TN balance sheet by $14 Billion, including $20BN increase in residential MBS. As we've exposed, FED is buying more USTs and MBS than their own principal estimates. Zero explanation. Zero justification.
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See also  The only way they will stop tightening is if markets explode ahead of time. At which point, soft landing becomes no longer an option.

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