Hints and tips:
...Analysts said the reverse repo rate reduction could presage cuts to the PBoC’s other policy rates — the medium-term lending facility rate (MLF) and the benchmark loan prime rate (LPR)....
...This is unfair to poor Joe, says team Joe....
...Thursday’s rate cut came after the central bank this week unexpectedly lowered the seven-day reverse repo rate, an important gauge for short-term banking sector liquidity, and authorities unveiled tax breaks...
...The central bank is projected on Thursday reduce the rate by just 10 basis points, according to market participants, the same amount by which it pared the reverse repo rate this week....
...Meanwhile, Narendra Modi visits Joe Biden at the White House....
...The latest out of the world’s least funny situational comedy is that Joe Biden and Kevin McCarthy will meet later today, and try to thrash out something that both parties will inevitably claim as a victory...
...If a default pushed short-term rates up, the Fed could expand its standing repo facility....
...Republican House Speaker Kevin McCarthy has met President Joe Biden this week, and Federal Reserve chair Jay Powell has weighed in too....
...Africa, Songwe declared, needed a “repo” market for its sovereign bonds....
...“Between our swap lines and our repo facility for other foreign central banks and our standing repo facility in the Treasury market, we have institutionalised liquidity provision,” he said....
...Joe Bonnaud, global markets chief operating officer and head of engineering at BNP Paribas, said the two main-use cases for the bank were securities financing and intraday repo....
...“It has been one of these years where everyone has gotten torched and it really is an environment where you feel like you don’t want to put your toes in the water,” said Joe D’Angelo, who runs asset manager...
...Some think it’s too narrow and prefer to look at M3, which throws in more arcane instruments such as institutional money market funds and repo....
...Quad summit: Leaders from the US, Japan, India and Australia gather in Tokyo for a summit at the end of Joe Biden’s five-day tour to South Korea and Japan, his first trip to Asia as US president....
...Madonna danced in its shadow in her “Borderline” video, and it featured in chase sequences in The Last Action Hero and Repo Man....
...The US departments of Justice and Treasury have launched the Russian Elites, Proxies, and Oligarchs (REPO) multilateral task force, targeting blacklisted Russians and their assets....
...From January, new CLO deals will most likely be pegged to Sofr, a new benchmark that differs from Libor because it is based on actual transactions in the repo market, whereas Libor was easier to manipulate...
...However, in recent months Goldman has begun to mimic repo trading using derivatives known as total return swaps that carry lower capital requirements than regular repo trades, according to people familiar...
...“It’s not like it used to be,” said Scott Skyrm, executive vice-president at repo broker-dealer Curvature Securities....
...The rate at which investors swap Treasuries and other high-quality collateral for cash in the repo market, another staple source of income for money market funds, has also turned negative at times....
...Some are clutching on to hopes that Joe Biden’s marquee social-policy bill, Build Back Better, can eventually pass, despite pivotal senator Joe Manchin’s protestations to the contrary. 2022 will be their...
...Biden’s agenda Just months after Joe Biden’s administration passed a $1.9tn coronavirus relief bill, policymakers are debating yet another massive injection of government spending....
...Federal Reserve officials generally believe the threat posed by subdued inflation is greater than the danger of rapidly rising prices, as they begin to factor in the possible effect of President Joe Biden...
...It will continue to offer overnight loans in the repo market but will stop one-month repo operations after February 9....
...The South African Reserve Bank said on Thursday it would maintain its benchmark repo rate for now, in contrast to the central banks of Russia, Turkey and Brazil that increased rates last week....
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