Ep. 447: The Reverse Repo Market May Be Telling Us When The Fed Will End QT TEK2day podcast

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Ep. 447: The Reverse Repo Market May Be Telling Us When The Fed Will End QT

7M ago 2:33

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Indhold leveret af TEK2day. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af TEK2day eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

The overnight reverse repo market (ON RRP) sat at $887 billion last night, down from $2.6 Trillion at the peak on December 30th 2022. As the Fed slowly removes liquidity from the system through QT, Banks and Non-Bank institutions are parking less capital overnight at the Fed. Think of the reverse repo balance as excess liquidity in the system. The RRP balance could be at zero by March 2024 (or shortly thereafter) at the current RRP drawdown trajectory. Perhaps when the ON RRP balance gets close to zero this dovish, interventionist Fed will stop its QT program. Something to watch for. Full article here: https://tek2day.substack.com/p/the-reverse-repo-market-may-be-telling

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511 episoder

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Ep. 447: The Reverse Repo Market May Be Telling Us When The Fed Will End QT

TEK2day Podcast

published 7M ago

Del

MP3•Episode hjem

Indhold leveret af TEK2day. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af TEK2day eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.

The overnight reverse repo market (ON RRP) sat at $887 billion last night, down from $2.6 Trillion at the peak on December 30th 2022. As the Fed slowly removes liquidity from the system through QT, Banks and Non-Bank institutions are parking less capital overnight at the Fed. Think of the reverse repo balance as excess liquidity in the system. The RRP balance could be at zero by March 2024 (or shortly thereafter) at the current RRP drawdown trajectory. Perhaps when the ON RRP balance gets close to zero this dovish, interventionist Fed will stop its QT program. Something to watch for. Full article here: https://tek2day.substack.com/p/the-reverse-repo-market-may-be-telling

… continue reading

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