Bonds and Economists At It Again

By |2019-04-30T17:59:43-05:00April 30th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Federal funds is up again. As of yesterday, the 29th, the effective rate (EFF) is now 5 bps above IOER. That takes it to within 5 bps below the top of the Federal Reserve’s policy range. According to FRBNY, the 1st percentile in yesterday’s session was 2.40%, meaning that almost the entire federal funds market [...]