最新报道:The Federal Reserve's balance sheet runoff is approaching levels that could ripple through fixed-income markets, with its Treasury holdings down by $1.5 trillion since mid-2022. Analysts warn the reduction may soon impact liquidity as the Fed's passive roll-off strategy removes a key buyer from the market. The central bank currently allows up to $60 billion in Treasuries to mature monthly without replacement, though some officials suggest slowing the pace could ease market strains. Meanwhile, money market funds continue absorbing excess reserves, keeping short-term rates stable despite the quantitative tightening. Market participants are closely watching for potential Fed adjustments to the runoff speed amid growing concerns about Treasury market functioning.