This is a really thought provoking comment for me. Especially your last point.
Could you go in a little bit further about what you think would cause fed balance sheet size to reverse its correlation with negative dollar strength? Is it its stabilizing effect on our markets increases demand for dollar denominated assets or for dollars directly as a hedge? Something else?
Could you go in a little bit further about what you think would cause fed balance sheet size to reverse its correlation with negative dollar strength? Is it its stabilizing effect on our markets increases demand for dollar denominated assets or for dollars directly as a hedge? Something else?