Independent Strategy

USUS 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.

Tags

ADP (6) Agriculturals (1) Asia crisis (1) Asset Allocation (1) Australia (2) Autos (1) Bank of Japan (1) BoJ (1) Bonds (6) Brazil (1) Brexit (5) Canada (1) Capital Goods (2) Central Bank (8) Challenger (1) China (18) Claims (1) Climate change (2) Commodities (1) Copper (1) Coronavirus (4) Corporate Bonds (1) Corporate Debt (2) Covid-19 (4) CPI (7) Credit (34) Current Account (1) Debt (2) Debt Crisis (4) Democracy (4) Demographics (9) Disruptive Technologies (4) Durable Goods (1) Earnings (1) ECB (9) Elections (2) Emerging Markets (4) Employment (8) Equities (1) Euro (3) Eurogroup (1) Europe (2) Eurozone (19) Exports (2) Factory Orders (6) Federal Reserve (7) Fixed Income (2) France (1) FX (2) GDP (11) Germany (15) Globalisation (8) Global Pandemic (2) Gold (2) HICP (1) Hong Kong (1) Housing (4) IFO (3) Income (1) India (1) Industrial Production (9) Inflation (22) Interest Rates (11) Investment (5) IP (9) Iran (4) Ireland (1) ISM (2) Italy (6) Japan (5) Jobless Claims (1) Korea (3) Labour Market (8) Liquidity (8) Manufacturing (3) Monetary Policy (18) Money (4) Money Market (1) Money Supply (10) Myanmar (1) New Monetarism (6) New Zealand (1) Oil (6) Payrolls (7) PCE (2) PMI (1) PMIs (1) Politics (9) Populism (6) Portugal (1) PPI (4) Production (1) Productivity (2) Profits (1) QE (5) Real Estate (1) Retail Sales (10) Russia (2) Services (3) Services PMI (1) Sovereign Bonds (2) Sovereign Debt (4) Spain (4) Sterling (1) Sweden (2) Technials (1) Technicals (52) TICS (1) Total Social Financing (3) Trade (10) TSF (4) Turkey (1) UK (18) Ukraine (1) Unemployment (5) US (35) USD (9) Vietnam (1) Wages (12)

In the Media