The chart of the week looks at inflows into Treasury securities since 2007. As one would expect, with the Fed increasing rates starting in March of 2022, Treasuries have seen huge inflows, which makes sense. A big question moving forward is when will the Fed start cutting rates and where will all of this Treasury inflow move to? Equity? Taxable or municipal bonds? Increasing duration? If you don’t have a plan, it is a good idea to start thinking about it.