I’m guessing “Great Depression II” wouldn’t poll well.
Day: March 17, 2020
Fed Unveils Another Emergency Facility, Says Primary Dealers Can Post Stocks For Cash
“Credit extended may be collateralized by a broad range of IG debt and equity securities”.
It’s Not Enough. It’s Just Not Enough.
The situation is fluid.
Some Guy Dressed Up Like Steve Mnuchin Is Going To Send You Free Money ‘I Mean Now’
“In the next two weeks”.
Fed Reinstates Emergency Commercial Paper Funding Facility In Move To Avert Crisis
“The commercial paper market has been under considerable strain in recent days”.
Nomura’s McElligott: We’re Seeing ‘Nervous Dollar Hoarding Demand’
“…USD funding pressure continues to mount despite the positive optics of the coordinated global CB FX swap line actions”.
Whac-A-Mole! Fed Faces Nightmare As Libor, Cross-Currency Basis Blow Out, CP Market ‘Frozen’
Stress, pressure, strain – pick your descriptor.
$850 Billion.
Governments are under pressure to do something – anything.
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