by Jason Burack via Wall St Fro Main St
Repo Madness is now up to $300 billion dollars per day as the first 42 day term repo (into 2020 now) for $55 billion dollars kicked in on November 25th.
There’s no end in sight for #RepoMadness but remember that it’s only temporary! LOL
Press Release from November 14th: www.cnbc.com/2019/11/14/reute…
The central bank will offer a total of $55 billion in longer-term loans. Two operations lasting 42 days will take place on Nov. 25 and Dec. 2. One operation lasting 28 days will be offered on Dec. 9, according to a schedule released Thursday. That compares with a more typical term of about 14 days previously offered.
Yesterday, November 25th the first of the Fed’s 2 $55 billion 42 day term repos (that go into 2020!) kicked in.
Here’s Jim Bianco’s Tweet twitter.com/biancoresearch/st… and his LinkedIn blog post about Repo Madness: www.linkedin.com/posts/james-…
The chart you see on your screens was also courtesy of Jim Bianco and Bianco Research.
Repocalypse & The CLO Boom-Bust – Is The Fed Bailing Out More Toxic Waste? www.zerohedge.com/markets/rep…
The Ghosts of Failed Banks Have Returned mises.org/wire/ghosts-failed-…