Treasury's Borrowing Strategy Impacting Market Liquidity  How the Treasury plans to fulfill its borrowing needs, balancing short-term bills and long-term coupons, will significantly affect liquidity and the performance of risky assets. Quantitative tightening is running out of time, and the Federal Reserve is likely to cut interest rates later...

Treasury's Borrowing Estimate Sparks Market Debate  Before Wednesday's announcement regarding the Quarterly Refunding by the Treasury, along with the latest update from the FOMC, and the release of today's Treasury Borrowing Estimate report, there's a significant debate stirring within the rates market. This debate carries potentially signific...