effective federal funds

The Only Good From IOER: Teasing Out The Shadow Money Costs That Do Matter

By |2019-04-26T16:57:14-04:00April 26th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

You don’t always have to understand the minute details behind these things to gain a sense of what they mean. I’m talking about things like negative swap spreads and related. From the textbook view, a negative spread makes no sense at all. On the surface, it seems to suggest the market thinks financial counterparties are [...]