I have been away from OMS duties for a few days during my conference but am now back and going through my reading, so expect a few more posts than normal as I “catch up” and go through some recommended reading I picked up at the conference.

This piece from David Kotok talks about how US treasury issuance is slowing down and, in combination with Fed policy, is driving rates down in a different manner than most assume. The piece also argues there will be more problems when QE ceases.