Updated this to the weekly chart timeframe as I want weekly close updates, not Wednesday updates (that's when the fed data is listed)
While Congress still needs to pass the debt limit agreement, the debate in the market has shifted to the need for the US Treasury Department (UST) to rapidly rebuild its depleted cash levels. We have no understanding of the timetable, but already the debate is whether the significant level of Treasury bill issuance will result in a major headwind for global...
Banking crisis saved this divergence. What happens when bank deposit outflows slow (which MMF inflows data suggests will happen, so far) and the Fed is free to go back to unloading the balance sheet?