Another Oversubscribed Term Repo Stokes More Year-End Liquidity Crunch Fears
The second of two 42-day term repos (i.e., guaranteed liquidity over year-end) was oversubscribed on Monday.
That will (again) serve as fodder for all manner of headlines featuring some arrangement of the words "rush", "secure", "cash" and "crunch".
The New York Fed got $42.55 billion of bids for the $25 billion offering, which was upsized from $15 billion after the first 42-day operation was twice oversubscribed last Monday.
Deal Date: Monday, December 02, 2019
Delivery Date: Monday, Decem
It is the trend that disturbs me…..” Hand me another band aid please…..just need one more..should be OK after that !! “
Is it me or was there a flood of CLO articles out the past few days? New boogeyman, timebomb or nothingburger? Here’s an example: https://www.nasdaq.com/articles/leveraged-loans