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Something Just Snapped: Chaos Hits Repo Market As “Dollar Funding Storm” Makes Thunderous Landfall

Summary:
Fast forward to today, i.e. "next week" when the dollar funding storm we warned about has just made thunderous landfall and the overnight general collateral repo rate, an indicator of secured market stress and by extension, dollar funding shortages, soared from Friday's close of 2.25% to a high of 3.80%, a spike of over 150bps... . https://www.zerohedge.com/markets/something-just-snapped-chaos-hits-repo-market-dollar-funding-storm-makes-thunderous

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Fast forward to today, i.e. "next week" when the dollar funding storm we warned about has just made thunderous landfall and the overnight general collateral repo rate, an indicator of secured market stress and by extension, dollar funding shortages, soared from Friday's close of 2.25% to a high of 3.80%, a spike of over 150bps...

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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