Fed Conducts Second Reverse Repo Test
Is it time for the liquidity bulls to panic? At $180 million probably
not, but while rates can't really go down (chukle, chukle Uncle Ben),
this number can only go up. As a reminder, the first repo test was a 3 day term, this one is 8 days. Long way to go before the collateral is the same bankrupt stocks that the Fed accepts in its tri-party repo agreements.