Powells claiming Repo intervention is not easing. Hes lying. JP Morgan left the market b/c such bad returns. That sent overnight rates soaring. If Fed hadn’t intervened, banks would have raised bank deposit rates to fund themselves. People would sell stocks and put it in banks.

Well said. The other key driver is the massive treasury paper being floated – they have finally reached what they called in the 80s "crowdout". The system canto absorb the … Read more