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

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...







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