August 19,
The U.S. Treasury was said to be “doing it,” indirectly controlling the yield curve and flooding the market with QE, and the U.S. dollar consequently went crazy and crashed.
In reality, it’s mostly adjustments to debt management and auction pacing, plus the market’s concerns about the fiscal deficit and inflation, which has increased volatility in long-term yields.
A real YCC requires the central bank to clearly commit to an interest-rate cap, and the Federal Reserve hasn’t reached that step yet.
This kind of impact is short-term.
Right now, driven by current positives, gold and BTC have both surged sharply.
From BTC’s volume/flow pattern, it does not yet appear that institutional funds have moved in. While this kind of news can lift prices, the duration is limited. Don’t chase the high. $BTC
The U.S. Treasury was said to be “doing it,” indirectly controlling the yield curve and flooding the market with QE, and the U.S. dollar consequently went crazy and crashed.
In reality, it’s mostly adjustments to debt management and auction pacing, plus the market’s concerns about the fiscal deficit and inflation, which has increased volatility in long-term yields.
A real YCC requires the central bank to clearly commit to an interest-rate cap, and the Federal Reserve hasn’t reached that step yet.
This kind of impact is short-term.
Right now, driven by current positives, gold and BTC have both surged sharply.
From BTC’s volume/flow pattern, it does not yet appear that institutional funds have moved in. While this kind of news can lift prices, the duration is limited. Don’t chase the high. $BTC