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“Not A QE” Begins: Fed Start Buying $60BN In Bills Per Month Starting Next Week
“Not A QE” Begins: Fed Start Buying $60BN In Bills Per Month Starting Next Week Just one day after we laid out what Goldman’s revised forecast for the Fed’s “NOT A QE” will look like, which for those who missed it predicted that the Fed would announce “monthly purchases of about $60BN for four months, […]
NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos
NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos Anyone who expected that the easing of the quarter-end funding squeeze in the repo market would mean the Fed would gradually fade its interventions in the repo market, was disappointed on Friday afternoon when the NY Fed announced it […]
The Ghost of Failed Banks Returns
The Ghost of Failed Banks Returns Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP, bringing an unwelcome spotlight to the troubled bank and other foreign banks with prime brokerages in America. There are also worrying similarities between Germany’s Deutsche […]
Dollar Liquidity Crisis Accelerates As Month-End Nears, Record $92 Billion Demand
Dollar Liquidity Crisis Accelerates As Month-End Nears, Record $92 Billion Demand As month-end looms, demand for dollar liquidity is accelerating dramatically with today’s Fed operation oversubscribed – with around $92 billion of demand for The Fed’s $75 billion offering… This is the heaviest demand yet for this new Fed liquidity spigot… As we noted previously, […]
Fiat Money Cannibalization in America
Fiat Money Cannibalization in America An Odd Combination of Serenity and Panic The United States, with untroubled ease, continued its approach toward catastrophe this week. The Federal Reserve cut the federal funds rate 25 basis points, thus furthering its program of mass money debasement. Yet, on the surface, all still remained in the superlative. S&P […]
Liquidity Shortage Getting Worse: Fed’s Repo Oversubscribed As Funding Demand Soars 50% Overnight
Liquidity Shortage Getting Worse: Fed’s Repo Oversubscribed As Funding Demand Soars 50% Overnight 20 minutes after today’s repo operation began, it concluded and there was some bad news in it: as we feared, yesterday’s take up of the Fed’s repo operation which peaked at $53.2 billion has expanded substantially, and according to the Fed, today there […]
Short Squeeze, Liquidity, Margin Debt and Deflation
Short Squeeze, Liquidity, Margin Debt and Deflation Some things you CAN see coming, in life and certainly in finance. Quite a few things, actually. Once you understand we’re on a long term downward path, also both in life and in finance, and you’re not exclusively looking at short term gains, it all sort of falls […]
The Lesson In China: Don’t Go Bubble In the First Place
The Lesson In China: Don’t Go Bubble In the First Place There can be no mistaking that Chinese stocks are in a bubble. Since November 21, the Shanghai SSE Composite index has risen more than 100%. Going back to July 22, the gain is nearly 145%. Those dates are not random coincidence, as they mark […]
