Andy Constan says markets are misreading cash management buybacks as a sign Treasury bill demand is fading. Exchanging one T-bill for another in a buyback is a balance sheet move, not evidence buyers are exhausted.
published
Andy Constan says markets are misreading cash management buybacks as a sign Treasury bill demand is fading. Exchanging one T-bill for another in a buyback is a balance sheet move, not evidence buyers are exhausted.
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