Swap Lines Explode: We’re One Step Closer To GFC 2.0
Swiss National Bank weekly dollar auction (via Fed swap line) up to 11 Billion/17 counter parties. We saw same dollar swap utilization during Covid and GFC. This is a HUGE canary in the coal mine. I explain in last whiteboard vid. @JeffSnider_AIP https://t.co/ZKooIPkD13 pic.twitter.com/MILUbF1g1t — George Gammon (@GeorgeGammon) October 19, 2022