from King World News
With continued money printing on the horizon, this is the situation with asset bubbles.
October 19 (King World News) – Peter Boockvar: I need to comment on a few Fed stories over the past few days. One was generated from Fed Governor Randy Quarles who said last week:
“It may be that there is a simple macro fact that the Treasury market being so much larger than it was even a few years ago, much larger than it was a decade ago and now really much larger than it was even a few years ago, that the sheer volume there may have outpaced the ability of the private market infrastructure to support stress of any sort there.”
He then took this as a basis that the Fed will need to be a permanent fixture “as a way of supporting a functioning market in Treasuries.” But, I haven’t concluded that that’s the case, the institution certainly hasn’t concluded that that’s the case, but I do think it’s an open question.”