“QT has almost been entirely offset by Janet Yellen running down the Treasury Savings Account. She could have sold 10 years for under 1%… instead she runs down the Treasury Savings Account.”

The government is technically in default?

"QT has almost been entirely offset by Janet Yellen running down the Treasury Savings Account.

She could have sold 10 years for under 1%… instead she runs down the Treasury Savings Account." pic.twitter.com/BMcFE6gGKk

— Financelot (@FinanceLancelot) June 1, 2023

TGA fell to $37 billion yesterday.

If The TGA has the -$80 billion in net outflows tomorrow technically the government is in default. https://t.co/yldMsi4P49 pic.twitter.com/PaZPMYHUMm

— Financelot (@FinanceLancelot) June 1, 2023