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China (Partly) Answers For Why Markets Are Forecasting Even More Powell Rate Cuts

By |2019-03-27T17:40:13-04:00March 27th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

On February 7, the 3-month LIBOR rate (US$) fell sharply. Traders were, as various media outlets reported, stunned. All sorts of excuses were issued, the goal of them cumulatively to deny your lying eyes. Falling LIBOR couldn’t have been the market, especially eurodollar futures, anticipating a rate cut because these same people had been saying [...]

LIBOR Was Expected To Drop. It Dropped. What Might This Mean?

By |2019-02-07T16:34:24-05:00February 7th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Everyone hates LIBOR, until it does something interesting. It used to be the most boring interest rate in the world. When it was that, it was also the most important. Though it followed along federal funds this was only because of the arb between onshore (NYC) and offshore (mainly London, sometimes Caymans) conducted by banks [...]

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