Infinity Repo? Fed Panics Again & Commits to at Least $1 Trillion in Repo Madness Per Day




from WallStForMainSt

Today’s announcements prove that the Fed is indeed NOT out of ammo!

Sunday night’s Fed announcements didn’t stop stock, corporate bond and credit markets from crashing. Fed Panics: Powell Cuts Rates To Zero, Announces $700BN QE5, Unveils Enhanced Global Swap Lines https://www.zerohedge.com/markets/fed…

So the Fed tried more again on (Monday, March 16th, 2020). After offering a surprise 2nd additional $500 billion repo yesterday (Monday, March 16th, 2020), the Fed made it more official today on Tuesday, March 17th 2020.

Steve Liesman from CNBC actually said on air on Monday that #RepoMadness is now “Repo to Infinity” or “Infinity Repo” https://www.cnbc.com/video/2020/03/16…

The new permanent commercial paper facility announced on Tuesday is designed to bailout the 24 primary dealer banks & large hedge funds by allowing them to give the Fed their toxic assets as “good collateral” for 100 cents on the dollar.

Steve Liesman talks about the Primary Dealer Credit Facility on CNBC: https://www.cnbc.com/video/2020/03/17…
2nd “Discount Window” or Term Auction Facility (TAF) coming soon too? https://www.cnbc.com/video/2020/03/17…

Articles About the Permanent Commercial Paper Facility Announced on Tuesday:
1) Federal Reserve launches crisis-era commercial paper funding facility https://www.marketwatch.com/story/fed…
2) Fed Unveils Emergency Lending Program to Shore Up Credit Markets https://www.nytimes.com/2020/03/17/bu…
3) The Lehman Playbook Is Here: Fed Announces Bailout Of Commercial Paper Market – Here’s The Bad News https://www.zerohedge.com/markets/leh…

Repo Madness Articles:
1) New York Fed says it will conduct second overnight repo on Monday https://www.marketwatch.com/story/new…
2) Fed Again Announces Extra $500BN Repo To Stabilize Funding Markets https://www.zerohedge.com/markets/fed…

But wait, there’s even more!
1) Congress Must Pass $2 Trillion TARP Or Face Global Depression: Minerd https://www.zerohedge.com/geopolitica…
2) Helicopter Money Arrives: White House To Send Checks To Americans Within 2 Weeks, Mnuchin Says