Most important tweet of the day. Some big institution out there is getting margin called. The notional amount of outstanding derivative exposures out there is insane, to say the least. The "imbalances" were on the buyside all along. https://t.co/0mV2IhBQNx
— Darius Dale (@HedgeyeDDale) March 13, 2020
Dealers are telling me they badly want the $1T in repos, but can't take it.
Post-crisis rules, among so many different regulators (Basel 3, Fed, OCC, FDIC, etc) make it nearly impossible for them to take the money.
They are telling the Fed their problems. The Fed had no clue.
— Jim Bianco (@biancoresearch) March 13, 2020
Credit, credit, credit. The global economy is driven on credit alone. The price of marginal credit dictates direction of global economy – this is price Investment grade and senior loans pic.twitter.com/bTIvxzTUjB
— Steen Jakobsen (@Steen_Jakobsen) March 13, 2020
The global recession has begun.
— Sven Henrich (@NorthmanTrader) March 13, 2020