Broad Market Calibrations: Nowhere Near Good

By |2017-11-13T19:20:40-05:00November 13th, 2017|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In later 2014, the Bank of Russia began to repo out eurodollars to local Russian banks. These financial institutions were being increasingly deprived of “dollar” funding on global markets. It made sense that Russia’s central bank would step in on their behalf, redistributing what it could out of its own pocket (though exactly which one was never made clear) to [...]