Greatest Liquidity Event Since Noah?

Jeff Snider (@JeffSnider_AIP) and Emil Kalinowski (@EmilKalinowski) review three topics: repurchase agreement stresses, low interest rates signalling disorder and why LIBOR doesn't think the Fed's new program is the greatest liquidity event since Noah.

Show Notes

Jeff Snider, Alhambra Investments Chief Investment Officer (@JeffSnider_AIP) and Emil Kalinowski (@EmilKalinowski) review three topics.  We review three articles Jeff wrote this week, trying to explain them a bit more than perhaps may be apparent at first glance. 

Firstly, why repurchase agreement stresses materialize prior to quarter-end.  Secondly, why low-low-low-limbo-proof interest rates (e.g. effective Federal Funds, overnight repo market rates) are not signalling success but further interbank stress.  Thirdly, why LIBOR and near-month Eurodollar futures are rising despite the "greatest liquidity event since Noah".

What is Eurodollar University?

Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.