Pimco CEO El-Erian is on the wires talking their book in the usual egregious fashion. The Fed will find itself in a difficult position if large Treasury issuance puts pressure on govis and mortgage yields.
Guess what Mohmamed? $1.2 trln in buying and rates are 100 bp higher than when they started. Start showing some backbone on inflationand rates will come lower owing to the ample slack in the economy. Your approach was tried and failed. No sense adding insult to injury.
