Caution! The Fed’s Pop-Up Repo Windows Reflect Very Tiny Brains At Work

It doesn’t get any stupider than this. Just as fast as the Fed pumps up the size of its freshly minted repo facilities, demand for speculative borrowing leaps another leg higher. After the Fed upped the overnight facility to $100 billion yesterday when it received $92 billion of bids under the original $75 billion overnight facility and announced three […]
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