Counterpoint: like the attitude towards subprime credit risk in the years following the GFC, banks have become hyper aware of interest rate risk since SIVB and its extremely…
>>QUOTE Paulo Macro (@PauloMacro) From a buddy…The Fed owns 19% of this issue. I imagine banks hold some too. Marked down to 47c on the dollar… Get ready for UK LDI all over again, except here in the US…this detonation of the long end will have consequences. 1/2
