The Bad News Of Repo Fails Subsiding

By |2014-07-16T16:12:27-04:00July 16th, 2014|Bonds, Currencies, Federal Reserve/Monetary Policy, Markets|

With the latest data from FRBNY in hand, the surge in repo fails authorities and certain credit market observers that were stressed over the affair, it is actually confirmation of regularity, and thus a high degree of systemic deficiency. Further, as a real world test, it ends any credibility the reverse repo program had as an institutional tool for maintaining [...]