Last week’s was an historic record. This week’s puts it to shame.

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You know… It’s a bear market.

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There were no Lehman’s or anything like it during March 2020. Does that mean there hadn’t been a crisis? According to some, yes. If you were talking specifically about a bank crisis, then, of course, that would be true. There was no bank crisis last month. It would […]

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It used to be that at each quarter’s end the repo rate would rise often quite far. You may recall the end of 2018, following a wave of global liquidations and curve collapsing when the GC rate (UST) skyrocketed to 5.149%, nearly 300 bps above the RRP “floor.” Chalked up to nothing more than 2a7 […]

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First, the coronavirus impacts are not showing up in the Atlanta GDPNow forecast for GDP in Q1.

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Off to the new quarter we go. The last quarter was historic, it had a massive blow-off top fueled by cheap money andexuberant optimism ignoring all the negatives and technical warning signs, […]

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102-Day Bill Offering Amount: 40 Billion

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There’s just no two ways about it. Absolutely extraordinary.

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Term and Type: 119-Day Bill Total Accepted: $40,000,546,500 High Rate: 0.130%

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39-Day Bill High Rate: 0.080% Total Accepted: $45,000,378,600

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