July 7 2020
The European Central Bank’s (ECB) recent decision to provide a Euro repo facility to non-Euro area central banks through June 2021 was an interesting one, suggesting that like the dollar, international demand for the Euro may be constrained by market forces. Looking at the data, is the Euro now important enough to argue that this type of facility is needed, and should it be made permanent?
July 6 2020
The decision by the Federal Reserve effective June 22, 2020 to move repo operations to the afternoon is showing up in higher US Treasury repo rates. Both the data and comments on the side suggest this is a positive step.
