Bix Weir: "ALERT! $3.7 Trillion in Bank Bailouts TONIGHT!!!" 6-8-2020
Bix Weir
ALERT! $3.7 Trillion in Bank Bailouts TONIGHT!
RoadToRoota: June 8, 2020
With everything else going crazy...the REAL insanity is that the Fed has bailed out the Banks EVERY NIGHT since Sept. 11, 2019 and tonight the banks need $3.7 Trillion!!
Where's the People's uproar about that?
Fed Overnight Repos Continue To Rise As QE Shrinks
by Tyler Durden Mon, 06/08/2020 - 10:09
After barely seeing any utilization for much of April and May after the Fed launched Unlimited QE, in the past three weeks there has been a clear rising trend in usage of the Fed's overnight (and term) repo operations, which on Friday rose to the highest since the March crisis, hitting $106.25BN alongside a $53.2BN in 20 day repos, and earlier on Monday saw another $67.05BN in overnight repo (across both TSYs and MBS).
While there is some debate about the cause for this apparent tightening in financial conditions, the simplest explanation is that as the Fed continues to shrink its daily POMO, which this week averages just $4.5 BN per day, dealers have to find other means to extract liquidity and are increasingly turning to the Fed's repo operations.
https://www.zerohedge.com/markets/fed-overnight-repos-continue-rise-qe-shrinks