Numbers don’t lie. The problems in the overnight lending market are more than TWICE as bad as they were in the second half of 2008.

Numbers don't lie. The problems in the overnight lending market are more than TWICE as bad as they were in the second half of 2008. Where's Kevin Bacon? Let's get him in uniform to lead the "All is well!!!" chorus. $SPX $TNX pic.twitter.com/I9HFTwX1UV

— Blueshirt Advisers (@blueshirt_omaha) December 5, 2019

Year-end rate risk #2-Fed doesn't execute large enough year-end RP ops, undersupplying the amount of liquidity needed. The Fed executed two $25B RP ops that extend over year-end and is committed to one more $25B op. Sadly, the Fed is only committed to supplying $75B so far

— Scott Skyrm (@ScottSkyrm) December 4, 2019