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Assets on the Fed's balance sheet increasing $297 billion over the last week, the largest spike higher since March 2020. Thus nearly half of the Quantitative Tightening since last April was undone in a single week. The spike was not due to asset purchases (Treasuries and MBS holdings actually declined) but from a $303 billion increase in "Loans." Part of that was the new Bank Term Funding Program ($12 billion) #CoSoFinance
@RealSeanBrodrick: Surprise, surprise. The banks kept doing what they did before that caused the same thing to happen. It's almost as if they don't care, because they certainly do know and understand what they're doing.