Whose Bets are Getting Bailed Out by the Fed’s Repos & T-Bill Purchases?
It happened. Hallelujah. Or maybe better: Watch Out! Yield Curve Spaghetti.
Whose Bets are Getting Bailed Out by the Fed’s Repos & Treasury Bill Purchases?
“Does that mean that we have bad markets?”
Cleveland Fed’s Underlying Inflation Measure Hits 3.0%, Hottest in the Data.
Ending the repo market blowout and un-inverting the yield curve.
The repo blow-out — whoever instigated it — comes in real handy.
I wish I could have sat in that meeting, watching the bewildered faces of Fed officials as they got hourly updates on repo rates blowing out.
Fed Sent Big-Fat Message on “U.S.-China Trade Tensions” to White House.
Meanwhile, the Fed relentlessly sheds MBS, replacing them with Treasuries, including short-term Bills.