Today’s “Watershed” Repo-calypse Is “One Of The Worst Things That Can Happen” — Did The Fed Fail: Repo Rate Refuses To Drop

• I am not sure what is going on. Something else is happening behind the scenes. Are we facing an escalating financial derivatives collapse? The FedRes appears to have lost control. We are in for a wild ride. Be wary of all the fantastic Bullshit the MSM will push to cover-up, obfuscate … the truth. Got physical gold yet?
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• Today’s “Watershed” Repo-calypse Is “One Of The Worst Things That Can Happen”
  by Tyler Durden, https://www.zerohedge.com/
  While it is being ignored by most (because the S&P didn’t crash), the chaos in the Fed-controlled short-term liquidity markets should panic everyone as for the first time in a decade, NYFRB was forced to inject liquidity for o/n repo…
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  Repo rates kept rising despite the Fed’s operation…
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  read more.
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• Did The Fed Fail: Repo Rate Refuses To Drop
  by Tyler Durden, https://www.zerohedge.com/
  Either Bloomberg needs to get better source of repo pricing data, or else today’s first in a decade repo operation by the Fed was a failure.
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  Why? Because whereas the overnight general collateral rate was indeed trading around 10% first thing this morning amid full-blown repo funding panic until the Fed announced today’s repo op, instead of “renormalizing” to ~2.25% after the repo closed at 10:10am, and some $53.2 billion in overnight liquidity was injected…
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  … the broadest repo rate has continued to rise and according to BBG data has jumped to 3.9340%, sharply above the 2.25% level it closed on Friday.
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  read more.

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