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Fed: after the policy rate lift-off, the balance sheet runoff
For months now, the Fed has been preparing to shrink its balance sheet, a process a.k.a. quantitative tightening (QT). The plan, which has now been finalised, will be announced at the FOMC meeting in May and implemented in its wake. The Fed will stop reinvesting maturing securities under certain caps. It does not plan to sell Treasuries, but is keeping this option open for MBS. If quantitative easing (QE) aims to weigh on long rates, QT is presumed to work in the opposite directi...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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