How did people in the Great Depression make payments when money, itself, went broke and gold was confiscated? What will we do today if power outages or cyberattacks take down credit-card/debit systems? Ways to be […]
by Tyler Durden In previewing today’s Fed statement regarding repurchase operations, on Tuesday Curvature Securities repo expert Scott Skyrm said that he expects the Fed to announce a $50 billion (at least) term operation for Monday December 23 […]
by Tyler Durden QE4 has officially arrived. As previewed yesterday, moments ago the Fed concluded the first POMO – as in Permanent Open Market Operation, not to be confused with Temporary – from previously announced T-Bill purchases ($60 […]
by Tyler Durden Update: Step away from the panic button (at least until tomorrow). Moments after the Fed announced that its second, expanded $60BN term repo came in oversubscribed (see below), the results of the overnight […]
by Tyler Durden For those hoping that the dollar shortage and overnight funding crunch would ease on the third day after the G/C repo rate exploded as high as 10%, we have bad news: it has […]
Tyler Durden, As the recent swoon in the S&P showed, the lasting pain from the February vol unwind has combined with multiple policy shocks to weigh on markets. We showed the concurrent impact of the various […]
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