If the Fed is buying bonds and primary dealers receive the cash, those dealers are institutional investors (banks, asset managers) with mandates that don't include buying equities like Nvidia; thus they use the cash to buy other fixed-income assets, creating a flow within fixed income but not from fixed income to equities.

causalpending

Speaker

Mark Dorciak

Evidence Quote

the guys from whom the FED is buying don't have it in their mandate to buy uh Nvidia or Tesla right... they're pumping money into the settlement system a very different animal

Source

The Crisis In Monetary Policy: It Doesn't Matter That Much | Mark DowForward Guidance
Created: 8/11/2026, 1:22:08 AM

My Notes

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