“Credit extended may be collateralized by a broad range of IG debt and equity securities”.
Category: fed
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.
All In. Limit Down.
“The Fed has likely fired off its last bazooka.”
Shock And Awe: Fed Cuts Rates To Zero, Announces $700 Billion In QE, Enhances Swap Lines
Now this a “whatever it takes” moment.
Trump Hints At Demoting Jay Powell To ‘Regular Position’, Says He Took Virus Test
“I haven’t made any decisions on that”.
QE Has Returned. And The Risk Parity Kraken Has Been Unleashed.
The drama continues.
Fed Brings Out Bazooka. Announces Massive Repos, Expands Asset Purchases Beyond Bills
“These changes are being made to address highly unusual disruptions in Treasury financing”.
Fed Injects Nearly $200 Billion To Fend Off ‘Cash Crunch’ As US Stocks Halted Limit-Down
It was the second time this week that US equities have been halted after the cash open.
Fed Figures ‘Right Now!’ Is Good Time To Upsize Repos As Panic Proliferates
“They should help support smooth functioning of funding markets”.
Dollar-Funding Stress Could Be ‘Crossing The Rubicon’ Moment For Market
Canaries and such.
Fed Harshly Panned For ‘Panic’ Rate Cut. Market Looks To Biden For Relief
Now, in 2020, it’s not clear where we are, besides on the border of lost credibility.
Zoltan Pozsar Takes On COVID-19: ‘Use The Swap Lines, An Uncapped Repo Facility And QE’
“Dollar funding is always the orphaned child of crises”.
Coronavirus Selloff Resembles Lehman In One Key Respect. Will The Emergency Fed Cut Change That?
Is your parachute working?
Fed Delivers Emergency 50 Basis Point Rate Cut Amid Virus Scare, Oversubscribed Repos
“Whatever it takes”, I suppose.
New York Gets The Virus, Buttigieg Quits Race, Caixin Crumbles In Monday News Deluge
Welcome to the new week. Enjoy your stay.
Getting Involved.
In the space of just seven trading days, US equities went from bubble to bust.Â
Libor Collapses Most Since 2008
“And yet, hanging over it all is the only question that really matters”…
Fed Hints At T-Bill Taper In Second Quarter (And Other Highlights From The January Minutes)
All anyone cares about is the liquidity spigot.
Conspiracies Aren’t Conspiracies And ‘Fundamentals’ Are Malleable
Ben Bernanke is the worst co-conspirator in the world.
Here’s The Real Problem With Judy Shelton’s Fed Nomination
The issue isn’t her unorthodox views. The problem is that her views are subject to change virtually overnight.
A Health Crisis, A Fed Chair, A New Bubble And One Largemouth Bass
“One might, perhaps, see the recent price-action of the Tesla as supportive of this idea.”
Revisiting The Ultimate In Ironic, Tragicomedic Fed Outcomes For 2020
It’s almost fatalistic.
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