US Gasoline And Food Prices Soar To All-time Highs As Fed Begins Removing Monetary Stimulus (10-year US Treasury Yield Jumps 8.7 BPS)

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US gasoline prices just rose to an all-time high. Yes, even higher than the Dubya-era gasoline price surge of 2008.

Rising gasoline and diesel prices are helping drive up food prices to the highest level in history.

The proxy war the US is fighting in with Russia in Ukraine is helping drive up food prices. But at the core is Biden’s anti-fossil fuel drilling executive orders starting when Statist Joe (and The Fish) became President.

As The Fed begins unwinding their massive balance sheet, the 10-year US Treasury yield jumped 8.7 basis points.

Published by confoundedinterest17

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7 thoughts on “US Gasoline And Food Prices Soar To All-time Highs As Fed Begins Removing Monetary Stimulus (10-year US Treasury Yield Jumps 8.7 BPS)”

  1. Can you expound on repos, rev repos, and “unwinding the balance sheet” (as well as “winding it” in the first place) — esp in the context of current circumstances – or perhaps point to an accessible primer on the subject for the rest of us?

    Note i’ve been in fin’l services most of my career and still can’t get it straight.

    The Fed grows the balance sheet by buying Treasuries and Agency MBS in order to push down interest rates. Unwinding the balance sheet means no additional purchases, and letting the Treasuries/Agency MBS mature (aka, runoff). They can either reinvest the proceeds from maturing Treasuries/Agency MBS, NOT reinvest or actively sell their holdings. Right now, they are limiting the reinvestment of maturity proceeds.

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