The Beam | Treasury Buybacks & The Mechanical Basis Squeeze
When Predictable Plumbing Becomes Profitable Signal
When Predictable Plumbing Becomes Profitable Signal
The Mechanical Architecture
Treasury buyback operations represent one of the last genuinely predictable microstructure arbitrages in global fixed income markets. Each bi-weekly operation creates a mechanical compression event where off-the-run (OFR) securities conver…
