How are giant markets for US mortgage backed securities/Treasuries connected? When rates rise -> fewer borrowers refinance -> duration on mortgage loans up -> MBS investors sell Treasuries = procyclical hedging. Nice @rbrtrmstrng explainer h/t @M_C_Klein
ft.com/content/560364… https://t.co/1oTGhP0JyX
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…