Mind The Air Pockets—Soaring Overnight Repo Vs. Flood Of New USTs

Markets have increasingly leaned on shorter-term funding rather than longer-term sources, Pozsar said in a Bloomberg podcast. And part of that is down to the immense growth seen in sponsored repo, which only offers money on an overnight basis.  https://www.bloomberg.com/news/articles/2019-11-08/repo-fragility-exacerbated-by-a-hot-new-corner-of-funding-market
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