Independent thinking for complex markets and current events
A sudden spike in SOFR (Secured Overnight Financing Rate) points to a mounting reserve shortage and an overnight repo spike, surprising many as SOFR printed at 5.39% on Friday. This departure from the market’s accustomed pattern, where overnight Repo GC rates spike without a corresponding rise in SOFR, underscores the imperfections of SOFR as a …
Meanwhile, in the US, yields on 30-year Treasuries are poised for their largest quarterly jump since 2009. https://t.co/l72Q23yKu5 — Lisa Abramowicz (@lisaabramowicz1) September 29, 2023
by ontrack So insider trading is considered a crazy trade now? Or an illegal one?
Fed Target is 5.25%-5.5% overnight rate is 5.3%. A) Banks tell Fed how much extra money is there by putting it in overnight deposits for given target rate. B) Banks are forced to charge more then the target rate to loan the money out otherwise they would loan it to the Fed overnight. The Fed …
Climate change extremists have deflated “hundreds” of tyres on SUVs in the wealthy Melbourne suburb overnight, with notes left on windscreens informing owners that their “gas guzzler kills” and suggesting they try taking public transport instead. Supporters of the global Tyre Extinguishers group said in a statement to media outlets on Friday morning that “concerned …
Five taco trucks across the Los Angeles area were robbed at gunpoint overnight, and police believe the same group of suspects is responsible. “Our cook, they dragged her to the wall. They pushed her… Three of them came up, one of them was the driver. They went off and took off with the money,” said …
NEW: The Walgreens at 16th/Geary in San Francisco has chained up the freezer section ⛓️ Workers said normally shoplifters clean out all the pizza and ice cream every night. They’re usually hit 20x a day. The whole store is virtually locked up. @KPIXtv h/t @greenbergnation pic.twitter.com/lfFWmkLWdo — Betty Yu (@bett_yu) July 18, 2023 Theft has …