therefore, apart from fleeting intimations supplied by a few “flash” prices, the ticker was engaged in informing the stock-market community of a selling panic at a moment when what was actually in progress was a buying panic.

Looking from this perspective at the U.S. deficit, by far not all of the credits borrowed by the government were financed by the Fed. According to preliminary and rough estimates, not 40 percent but “only” about 13 percent of U.S. expenditures are presently financed this way. Moreover, in discussing this problem it has to be taken into account that

Rapidement, une crainte sur la liquidité du bon étatsunien, sa capacité à être vendu facilement, s’est propagée… La valeur du safe asset était en péril. Pour un représentant de la Bank of America, il ne s’agissait rien de moins que d’une « question de sécurité nationale » capable de « limiter la capacité du gouvernement américain à répondre au coro

Let us give you one scenario that worries us. Congress shows no discipline and lets the budget run through a few more trillion in the next two years. The Fed has been successful in reflating the economy after it has embarked on even more aggressive quantitative easing. The bond markets get very nervous, and longer-term rates start to rise. What lit

The Fed could enforce these interest-rate ceilings by committing to make unlimited purchases of securities up to two years from maturity at prices consistent with the targeted yields. If this program were successful, not only would yields on medium-term Treasury securities fall, but (because of links operating through expectations of future interes

Unlike most developed countries, the United States government is heavily reliant on foreigners lending it money by buying its Treasuries. Foreigners currently hold $6.7 trillion in U.S. government debt.

However, from the start of 2015, due in part to the strong dollar environment, foreigners have been buying very little U.S. government debt compared