Two short-term money markets are yielding LESS THAN the Federal Reserve's RISK FREE reverse repurchase agreement program. Despite the Fed offering now $2 trillion in Treasury securities to the market the 'below-market' yields are signaling there's not enough money / credit / collateral / securities available -- a money shortage.
----EP. 243 REFERENCES---- RRP (use) Hits $2T, SOFR Like T-bills Below RRP (rate), What Is (really) Going On?: https://bit.ly/3GXNdIy Alhambra Investments Blog: https://bit.ly/3wh01G2 RealClear Markets Essays: https://bit.ly/38tL5a7 Epoch Times Columns: https://bit.ly/39ESkRf