The cash squeeze in wholesale money markets that we’ve been following got a whole more exciting on Friday, and now we have the full set of numbers on it. Interest rates soared the most since 2020 further proving the Federal Reserve’s program which is supposed to keep this from happening doesn’t keep it from happening. Imagine my shock. We also know that there were plenty of spare reserves available, too. And with more borrowing from the Fed again this morning so far, we have to consider the question whether this ongoing and escalating tightness is pointing to something bigger.
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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.