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The regulators thought they transferred credit risk from the banks to the buyside. But banks fund buyside leverage via prime brokerage. If repo stops, credit stops. If credit stops, the business cycle stops. The Fed won’t be allowed to stop TOMO 4 long. See $WE for more details. t.co/eJ57iNxC5B
— Darius Dale (@HedgeyeDDale) September 20, 2019
If you think that means “buy stahks” today on that, you’re mistaken. The market needs to force the Fed to authorize “perpetual QE” into an election year — especially one in which the incumbent has challenged the independence of the the FOMC and repeatedly berated its leaders.
— Darius Dale (@HedgeyeDDale) September 20, 2019
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