Dell built up a truly massive position in options on its own stock. (basehitinvesting.com)
Dell built up a truly massive position in options on its own stock. (basehitinvesting.com)
At a 10 - year Treasury yield of 1.7 %, interest on reserves of 0.25 %, and a monetary base now at about 18 cents per dollar of nominal GDP (see Run, Don't Walk), further purchases of long - term Treasury securities by the Fed would produce net losses for the Fed in any scenario where yields rise more than about 20 basis points a year, or the Fed ever has to unwind any portion of its already massive positions. (hussman.net)