Powell, by nature - points the finger and blame @ Sec. Of Treasury - Janet Yellen.
Yellen is suppressing "Pristine Collateral" according to Jerome Powell.
Is She though... If Banks are not lending... They need to be paid to hold the abundance of CASH.
But, wait a minute... Money Center Banks / Primary Broker Dealers do not want CASH. They prefer you place your CASH in Money Market Funds.
Say what, Banks don't want CASH?
Yes, it is serious LIABILITY on their balance sheets at this point in time as their balance sheets are DEBT Laden.
WTF Mate, what are you talkin bout?
J.Dude, seriously - you are delusional... This is simply a series compounding errors by ALGOs trading in the Treasury market.
IF you believe this - please consider the following:
We pointed out this is or LTCM / Lehman moment on an exponential Scale more than a few times.
So let's clear the decks with respect as to why Mate.
When the lowest yielding Treasury is in Demand - exponential Demand.
WE have a problem, one in which everyone loses a Hand.
Credit simply gives way to Crisis - Crisis is all that results.
And we are all seeing this presently - Inflation is at the highest rate in REAL TERMS while Yields on the Treasury Curve in Real Terms are at the Lowest on Record.
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