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The Treasury market might need Fed support indefinitely after ballooning in 2020, official says

14 days ago   |   By Business Insider

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The Treasury market may no longer be able to function properly without the Federal Reserve's intervention, according to Randal Quarles, vice chair of supervision at the central bank.
The surging US debt pile forecasts a long period of increased bond issuance. The Fed's purchasing of roughly $80 billion of Treasurys a month has bolstered the market through the supply glut.
The "sheer volume" of debt set to hit the market "may have outpaced the ability of the private-market infrastructure to kind of support stress of any sort," Quarles said.
It's an "open question...
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