Liquidity is drying up. Even Japam had to raise their interest rate. I don’t doubt bank failures are coming, and that they will use it as an excuse to get money from taxpayers and print money on a larger scale than ever before.

And no, I haven’t jad access to a Bloomberg terminal since 2020. But I was around when the Greekdebt crisis hit and when Lehman went bankrupt. I never heard ofdtc deleting a cusip, but maybe I just wasn’t cool enough.

If that were to happen, chstodians would still have the bond on their nooks, they justhave to update the identifier until they figure out how much of a haircut or loss they have to write down.