Demand for Duration
Structural demand for duration is influenced by factors such as policy rates, growth expectations, and market volatility. The interplay between funded and unfunded duration reveals intriguing dynamics, particularly in the swaps market, where risk-free securities can trade at unexpected rates. Investment managers often seek alternative strategies to manage duration, highlighting a complex landscape where the true cost of issuing long-term bonds may not align with perceived value.In this clip
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Odd Lots
How the US Treasury Will Fund the Next $20 Trillion in Debt
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