The US Dollar has finally started to react more to these repo announcements (DOllar Index at 5 month lows) and the Fed’s official balance sheet increasing $30 billion in one week, $65 billion dollars in only 3 weeks and the Fed’s official balance sheet is now up $335.5 billion dollars since the end of August 2019.
Track the Fed’s official balance sheet here: https://fred.stlouisfed.org/series/WALCL
Today, the NY Fed announced even more repo programs: https://www.newyorkfed.org/markets/op…
Looks like Jim Bianco was dead on with his prediction about Repo Madness from less than 2 weeks ago.
A few days ago, Jerome Powell gave his last press conference for 2019 and said how the Fed was prepared to backstop repo in unlimited amounts: Fed ‘prepared to adjust’ balance sheet to prevent repo market flare-up https://finance.yahoo.com/news/federa…
Claudio Borio from the Bank of International Settlements (BIS) talks about the repo market and how FX currency swaps (forward dollar swaps) are now larger off balance sheet than the $13 trillion on balance sheet for non-financial institutions outside the US: https://www.bloomberg.com/amp/news/ar…
“Massive… Huge… Largest Ever”: Fed Will Flood Market With Gargantuan $500 Billion In Liquidity To Avoid Year-End Repo Crisis https://www.zerohedge.com/markets/avo…
Repocalypse 2.0 On Deck? “Turn” Repo Rates Are Blowing Out https://www.zerohedge.com/markets/rep…
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