Markets Archives - Rethinking the Dollar

Funding Markets Are Freezing: Global Dollar Shortage Hits Alarming Levels

Mar 12, 2020 | Markets, Repo Market, Stock Market

The surging demand for repo liquidity – and massively expanded bailout facility size by the New York Fed – suggests there is a major global scramble for USD funding, and today’s price action in the archaic money markets exposes it has now reached...

Blain: “We Are Past The ‘Buy The Dip’ Moment”

Mar 9, 2020 | Markets, Public Health, World News

This is going to be a challenging week. Coronavirus is the dominant feature, and its unknowable. As an exogenous shock its out-with-normal market experience. The speed at which it’s apparently taking hold in Italy is properly scaring the pants...

“If You Liked It Up There, Do You Love It Now?”

Mar 9, 2020 | Markets, Stock Market

Over the course of the last few hours, we have been moving back and forth between being aghast at the market carnage, and all it might imply, and feeling agonizingly anxious about missing out on the rebound sure to be coming. Those are big emotional swings even...

Rumors Of Macro Fund Failure Amid Ultra Long Bond Explosion

Mar 6, 2020 | Finance, Markets

Back in December, the BIS laid out a stunning, and heretofore unknown assessment of the factors leading into the September repocalypse: not only was the overnight repo surge to 10% a function of supply (or lack thereof), with banks – primarily JPMorgan –...