top of page
20180831_091845.jpg

The Institutional Risk Analyst

© 2003-2024 | Whalen Global Advisors LLC  All Rights Reserved in All Media |  ISSN 2692-1812 

  • Ford Men on Amazon
  • Twitter
  • LinkedIn
  • Pinterest

Stocks, Interest Rates and Reverse RPs

December 8, 2023 | Premium Service | It is more than a little surprising to see how few Fed watchers appreciate that the Street’s rotation out of Reverse Repurchase Agreements (RRPs) and into T-bills essentially provided the catalyst for the November rally – and the cash to fund the ¾ of a point decline in yields in the Treasury market. As we were sitting in the trading room this AM, the jobs number came out and the 10-year Treasury moved from 4.17% to 4.25% in less than a minute.


In this issue of The Institutional Risk Analyst, we take stock of the world of fixed income and credit as the year ends. As in December of 2018, the Street has essentially closed its books for the year.  Large banks led by JPMorgan (JPM) have in so many words told the Street “no thanks” to new exposures, meaning that we may see more trouble in Repo land before the New Year.  Look at the upward spikes in the Fed funds rate over the past two weeks.

Want to read more?

Subscribe to theinstitutionalriskanalyst.com to keep reading this exclusive post.

705 views

Recent Posts

See All

댓글

댓글을 불러올 수 없습니다.
기술적인 오류가 발생하였습니다. 연결 상태를 확인한 다음 페이지를 새로고침해보세요.
bottom of page