Macro Strategy Insights

I Am The House Now

The Secretary of the Treasury gave markets a lot to think about yesterday, when he announced that he “is the house now”. The statement was focused on the Yen and the “intervention” / “direction of travel” there. Having said that, the buyback schedule from the Treasury is going to be announced this morning. Should be 7 longer dated bond buyback operations in the next 8 weeks. He steered markets towards $4 billion, up from $2 billion, but most expect a bigger number (need it to get some “shock and awe” effect). But let’s think about what it means to “be ... I Am The House Now

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