Gold, Repos, Eurodollars and the Fed’s Bad Alchemy

By |2013-08-27T16:33:42-04:00August 27th, 2013|Markets|

Repo markets are flashing warnings again, as conventional explanations fall short of full comprehensiveness. We learned today that US treasuries across the curve are once again trading very special in the repo market, meaning negative repo rates for US notes from 2 to 10 years in maturity. Technical factors play a role, as this week’s auctions will change over the [...]