We are about to see an interesting collision in the bond market. On the one hand, we’ve seen record buying of bonds by retail investors this year. On the other hand, we’ve seen record issuance of debt by the Federal government. This week, on October 29, the Fed is planning to end their $300 billion Treasury support program, where they’ve been buying up Treasurys to help soak up the heavy supply. A spooky prospect for Halloween, indeed.
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