Bank of America strategists Mark Cabana and Katie Craig pointed out in the report that since the amount of reserves the Federal Reserve needs to fill exceeds the size of its current proposed debt purchases, money market interest rates may not return to a more normal level until December 2026.

Bank of America strategists Mark Cabana and Katie Craig pointed out in the report that since the amount of reserves the Federal Reserve needs to fill exceeds the size of its current proposed debt purchases, money market interest rates may not return to a more normal level until December 2026.