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There have been a whole bunch of ripples through the monetary system coming in from all angles pointing toward a sizable collateral disruption. The primary culprit(s) appears to be from Europe, starting in bond spreads surging off election uncertainty though we can't discount the ECB's rate cut as a factor. The eurodollar aftershocks are pronounced regardless of origin. Eurodollar University's Money & Macro Analysis IOSCO Securities Lending Transactions: Market Development and Implications https://www.bis.org/cpmi/publ/d32.pdf https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU Eurodollar University's Anniversary Webinar: The Fundamentals of Interest Rates over the Next 12 months. Sign up below: https://event.webinarjam.com/channel/rates |