---
title: Really important chart from @Econimica
description: "QT NEVER happened in 10+yr USTs post-2022. The Fed still holds a large amount of long-term debt. The QT mainly took place through short-term Treasuries (the blue line). \nAs explained by StockMarket.news, over the last few years, the Fed has been draining some money out of the system but doing it in a very controlled way. \nIt’s avoiding a big sell-off in long-term bonds because that could cause interest rates to spike and hurt the economy. So while it looks like the Fed is being tough with QT, the reality is softer the real tightening is happening with short-term bonds, while the long-term side still has a safety net. It’s a reminder that even when the Fed says it’s tightening, it’s still making sure the markets don’t fall apart."
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Really important chart from @Econimica](https://blog.syzgroup.com/syz-the-moment/really-important-chart-from-econimica)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Oct 15, 2025, 3:45:07 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/really-important-chart-from-econimica)

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