00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Federal Reserve has purchased $237 billion in treasuries since December,
00:07according to Fred data cited by the Kobe SE letter.
00:11The Fed's treasury holdings rose to $4.4 trillion,
00:14nearly 66% of its $6.7 trillion balance sheet,
00:18indicating active support of the treasury market.
00:21BlackRock's Rick Reader said the bond market is absorbing about $520 billion a week
00:27in gross treasury supply.
00:28He said equities offer more upside due to a supply-demand imbalance
00:33driven by share buybacks and limited IPOs.
00:37Reader said manufacturing and housing are in recession,
00:40while AI investment and high-income consumption support broader growth.
00:44He expects eventual rate cuts and a 4% 10-year yield,
00:48but said BlackRock is waiting before extending duration.
00:50For all things money, visit Benzinga.com.
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