Money Market Update
Increased volatility has reduced repo activity and increased fails. Money market rates, however, remain stable. Meanwhile, the bear steepener hinders risk assets, as the coming QRA may provide relief
In case you missed it — or you’ve just joined us — part two of The Repo Market Exodus went live…
Next, we’ll publish the last in our repo market series, in which we’ll take an extensive look at the plumbing of the dealer-to-customer markets, the largest and most obscure segments. This time, the word count will be slightly larger to ensure everything is explained and the jargon is debunked. This is the most complex part of the financial system, so if you understand it, you’re winning.
But first, a money market update…
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What is the significance of treasury & agency fails? The latter seems to have increased a lot this month.
Wouldn't it be better to start the rrp chart from 2021?