Below the 100 and 200 hour MA
The FOMC minutes were foggy, but did suggest the Fed would look to lower the 4.5T balance sheet. If they did that there would be no more carry profits for the worlds largest bond portfolio. That should raise the US deficit (well it would be lower. They make good money on the bond portfolio and remit profits to the treasury). Don’t worry, I don’t think it would be much of an impact.