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· Authored by Wolf Richter via WolfStreet.com, Where is the Fed’s “U-Turn” that Wall Street promised us? In June, the Fed shed Treasury securities at the slower pace announced in its new plan for QT, but it dumped Mortgage Backed Securities (MBS) at the fastest rate since the QE unwind started, breaching its “up to” cap for the first time. And it is experimenting with the opposite of its QE-era.
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