My patience has been exhausted.
The week after the year-end Repo Chaos didn’t happen.
Bailing out its crybaby-cronies on Wall Street, even when there isn’t a crisis.
The fastest increase in assets for any two-month period since the post-Lehman freak show in late 2008 and early 2009.
Whose Bets are Getting Bailed Out by the Fed’s Repos & T-Bill Purchases?
Whose Bets are Getting Bailed Out by the Fed’s Repos & Treasury Bill Purchases?
“Does that mean that we have bad markets?”
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.