Fire Sale! Foreign Central Banks Sold Record $109 Billion Of Treasurys Last Month Amid Mad Dollar Dash

Fire Sale! Foreign Central Banks Sold Record $109 Billion Of Treasurys Last Month Amid Mad Dollar Dash

Earlier this week, the Fed unveiled a temporary repo facility with foreign central banks and international monetary authorities aimed at averting the kind of Treasury liquidations witnessed in March, when market participants sold anything that wasn’t tied down in order to raise USD cash. The new facility is necessary, the Fed explained, to ensure “the smooth functioning” of markets “including” the UST market, traditionally the deepest, most liquid market on the planet, but a space whe
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