Tag Archives: Repo Market

I would write something snarky about bank reserves, but why bother at this point? It’s already been said. If Jay Powell doesn’t mention collateral, no one else does even though it’s the whole ballgame right now. Note: FRBNY’s updated figures shown below are for last week. Primary Dealer Repo Fails (UST), 2017-2020 - Click to enlarge You Might Also Like Is GFC2 Over? Is it over? That’s the question...

Something happened in the credit market this week. A Barron’s article about it began: “There have been disruptions in the plumbing of U.S. markets this week. While the process of fixing them was bumpy, it was more of a technical mishap than a cause for investor concern.” Keep Calm and Carry On So, before they tell us what happened, they tell us it’s just plumbing, it’s been fixed, and that we should not be concerned. The article asserts that the reasons for the...