Some of my notes that I gathered when looking into what the QRA is and today's FOMC meeting update.

TLDR: We are so early.

aspiring web3 software engineer.

@0xpravin

QRA stands for Quarterly Refunding Announcement 
This is an announcement made every quarter regarding the Treasury’s plans for issuing new debt securities, particularly treasury bills, notes & bonds to finance the government’s operations & manage its debt obligations.


When directly asked whether this was a possibility, he said it was unlikely that the next move would be a hike.
The market has already priced in little to no cuts for 2024, the lack of hawkish tail risk means that risk assets should see upside from here.


As of 5/1/2024, the market doesn’t expect a possible rate cut until November 2024

Higher issuance of longer term debt increases yields, increases duration, and increases term premium

FOMC did announce a taper to QT, and are planning to cut the runoff of Treasury bonds by 35B per month and keeping MBS runoff constant.
There is a QT taper increase of $5B/month compared to last FOMC. [DOVISH*]
