I’m aware that is the case. If they weren’t doing that, though, it would result in a massive uncontrolled level of tightening. I don’t see how it’s somehow a bad thing that they are being intentional about the draw down.
If I were to buy a bond ETF, that fund would be doing the same thing on my behalf. I wouldn’t be “buying” bonds just because the underlying product is maintaining a fixed asset level/ratio.
If I were to buy a bond ETF, that fund would be doing the same thing on my behalf. I wouldn’t be “buying” bonds just because the underlying product is maintaining a fixed asset level/ratio.