foreign repo pool

August TIC: Trying To Get Collateral Out of the Shadows

By |2019-10-21T18:08:31-05:00October 21st, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The second most frustrating aspect of trying to analyze global shadow money is how the term “shadow” really applies in this case. It’s not really because banks are being sneaky, desperately maintaining their cover for any number of illicit activities they are regularly accused of undertaking. The money stays in the shadows for the simple [...]

Chart(s) of the Week: You Were Saying Rate Cut?

By |2019-08-02T16:48:31-05:00August 2nd, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

We’ve got repo, erratic federal funds market, German 2s correlated with it, plunging bond yields, angry swaps (IR and FX), and economic data increasingly and more speedily in the wrong direction. Overseas official entities piled even more into the foreign repo pool, their payments dollar buffer, another definitive sign of a much more acute dollar [...]

The RHINO Conundrum of UFO Non-believers

By |2019-06-26T17:14:42-05:00June 26th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In 2005, Ben Bernanke kicked up quite a bit of controversy, or what qualifies as drama in the dry space of top-level Economics. It was Alan Greenspan who really started the conversation, practically begging for someone to offer an answer. Long-term interest rates were not behaving the way they were supposed to; the maestro’s true [...]

From Their Lips To No One’s Ears

By |2019-06-25T15:27:49-05:00June 25th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I thought this one needed a separate notation, though the same subject as the previous article. We’re still talking about the foreign repo pool, or monetary policy’s original reverse repo. It’s basically a way for overseas official governments and central banks to tell the Fed’s New York branch they’re uncomfortable with the dollar condition. How [...]

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