Independent Strategy

Macro Matters

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Independent Strategy Blog: Macro Matters
US

18th September, 2019 » , US Money Market Volatility

The spike in repo rates (Figure 1) in the US has drawn quite a bit of attention, sparking some concerns that this might be a sign of some kind of systemic risk.  But the reality is somewhat more balanced, with the rise reflecting a number of specific factors and probably a rather sluggish response from the NY Fed, which conducts the open market operations of the Federal Reserve system, rather than any deeper seated problems.

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