September 29 2020
We heard last week that an end of year US repo term transactions has printed at 27 bps while the Fed’s repo facility remains a backstop for most of the repo market at 15 bps. This transaction shows that although the Fed has flooded liquidity to the market, someone is not getting it and believes that end of year volatility could damage their business. But a 27 bp trade means that the Fed’s intended policies may not be working as intended.
September 28 2020
We are looking forward to our 06 October webinar on uncleared margin rules (UMR) and securities finance, produced with Eurex and Natixis and featuring speakers from MN and Citi. This is a challenging topic and one that has the potential to add positive value to the securities finance industry, if approached the right way.