Repo Rates Plummet Near Record Low -4.25% In Bond Market Meltdown
- Silver Report Uncut
The repo market was flipped on its head and the overnight repo rate plunged as low as -4.25% meaning the lenders were ending up paying the borrower due to the huge volume of banks borrowing to buy Treasuries. A former Fed repo market chief from the NY fed was warning something needs to be done immediately about the bond market and the coming SLR suspension expiration. This may be the beginning of the imminent correction that BofA JP Morgan and Goldman Sachs have been warning about.
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