-
A crack just emerged in the financial markets: The NY Fed spends $53 billion to rescue the overnight lending market
Borrowing rates skyrocketed on Tuesday in a corner of the markets the public rarely notices but that is critical to the functioning of the global financial system. The spike in overnight borrowing rates forced the New York Federal Reserve to come to the rescue with a special operation aimed at easing stress in financial markets. It was the NY Fed's first such rescue operation in a decade, the last occurring in late 2008. "It's unprecedented, at least in the post-crisis era," said Mark Cabana, rates strategist at Bank of America Merrill Lynch. On Tuesday morning, the NY Fed launched what's called an "overnight ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Sep 18, 2019 10:38am Sep 18, 2019 10:38am
- Skracor247
- Joined Oct 2008 | Status: Price made me do it. (0.0) | 360 Comments
- Comment #2
- Quote
- Sep 18, 2019 10:42am Sep 18, 2019 10:42am
- afevir
- Joined Feb 2019 | Status: Member | 1224 Comments
Confucius: the man who broke the mountain was the same man who started ...
- Comment #3
- Quote
- Sep 18, 2019 11:14am Sep 18, 2019 11:14am
- fransiscus
- | Joined Oct 2013 | Status: Member | 13 Comments
- Comment #4
- Quote
- Sep 18, 2019 1:51pm Sep 18, 2019 1:51pm
- Micc23
- | Joined May 2017 | Status: Member | 848 Comments
- Comment #5
- Quote
- Sep 18, 2019 6:00pm Sep 18, 2019 6:00pm
- syntaxfx
- | Joined Oct 2017 | Status: Member | 98 Comments
SyntaxFX