#LateCycle
#BalanceSheet #GSIBSurcharge
bloomberg.com/news/articles/…
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@RaoulGMI @MacroMorning @GS_CapSF
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Fed RRP Usage now spiking way over & above normal usage spike from GSE P&I cash that normally comes in mid month. (See chart). They can’t even print QE w/o slashing IOER to ZIRP. @RaoulGMI @MacroMorning
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“One potential effect in Reverse Repo usage is to drain reserves from banking system, in effect acting as headwind to efforts by Fed to bolster reserves & stabilize short end.”
newyorkfed.org/medialibrary/m…
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City National Of NJ: 11/1/19
Resolute Bank, OH: 10/25/19
Louisa Bank, KY: 10/25/19
Enloe State Bank, TX: 5/31/19
“But this is the Opposite - Taking Cash Out of the System Effectively Countering the Move to Bolster Reserves. @RaoulGMI @MacroMorning @GHBurnsCFA
google.com/amp/s/www.bloo…
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“It’s Not QE” & It’s Not Working.
#QE4 #PrintingPress
@RaoulGMI
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Praying for sponsored Repo for year end GSIB scores to net out?
Good luck Levered Hedge Funds.
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