In accordance with the FOMC Directive issued September 18, 2019, the Open Market Trading Desk at the Federal Reserve Bank of New York will conduct an overnight repurchase agreement (repo) operation from 8:15 AM ET to 8:30 AM ET tomorrow, Thursday, Sept…
The story gaining traction in the mainstream is that the combination of dealer space (lack of) and a tax-receipt related drawdown at Treasury has left the funding markets uniquely exposed.
You might expect him to be pissy and cranky today because of this but he had a good day.
The Fed is the God of Hellfire! The FOMC lower the Fed’s target rate by 25 basis points to 2.00%. The NY Fed’s SOFR rate ballooned.
What up with that? Financial markets have gone crazy as liquidity seemingly vanishes.
What happens when the Fed does things…and the market doesn’t respond accordingly?
The entire financial world is awaiting the ramblings of an old man who is going to declare which policies are best guaranteed to preserve his nine-figure family fortune.
Before the Great “Recession” ended the business cycle as we once knew it, there was a widely accepted concept known as stall speed. In the US, if GDP growth decelerated down to around 2% it suggested the system had reached a danger zone of sorts. In a such a weakened state, one good push, or […]
Why did the Fed conduct the overnight repo operation this morning? The answer isn’t what you think.
(Bloomberg) — The Federal Reserve took action to calm money markets on Tuesday, injecting billions in cash to quell a surge in short-term rates.