Global Money Notes #26 Countdown to QE4
Comment of the Day

January 06 2020

Commentary by Eoin Treacy

Global Money Notes #26 Countdown to QE4

Thanks to a subscriber for this edition of Zoltan Pozsar’s money market notes for Credit Suisse. Here is a section:

Eoin Treacy's view

A link to the full report is posted in the Subscriber's Area. 

The surge in repo rates was not a blip. It was the result of a combination of factors that conspired to drain liquidity from a vital part of the financial system. The solution has been for the Fed to step in as lender of first and last resort because traditional market makers are constrained by regulation and requirements to hold higher cash reserves.

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