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RE: Is the Flattening Yield Curve down to how the Fed is unwinding QE?
Don't forget all the QE done by the ECB and Swiss National Bank, which they then used to buy dollars to keep their currency down and then invested in Treasuries. That would have held the yield down at the long end.
There was a story around last year about the Swiss National Bank printing swiss francs and then selling them for dollars and euros to hold down the value of the franc. I guess they parked some of that money in treasuries.
That's astonishing. I'm sure they didn't mean to manipulate markets like that, but that's the net result.