Stress In Money Markets Linked to Balooning Deficit

Which requires printing tons of new money to create illusion that the market can handle it.

(From The Global Macro Monitor)

Nobody really knows for certain what is causing the stress in the money markets, but our calculated guess is it is:1)somehow related to the massive new issuance of Treasuries, which is sucking liquidity out of the markets, as prices are repressed and not allowed to clear;…2) primary dealers stuffed with Treasuries having to fund themselves….

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