Hard Times In The Eurodollar Straits

By |2019-07-08T16:48:06-04:00July 8th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

As of trading on Friday, federal funds for the third time is now back to above where all this began. For much of 2017 and Reflation #3, the effective federal funds rate (EFF) remained steady at 16 bps above the RRP “floor.” Apart from month-end dumpings, it was consistent and predictable; the best of times, [...]