Deteriorating Liquidity Conditions
Liquidity is starting to deteriorate, and a great insight into this is the Repo market. This is also a possibility of the reason we could begin to see the Fed pivot. Failures to deliver (Bonds used as collateral in Repurchase agreements) have been elevated and are up 22% on a WoW basis. This is a sign of liquidity event brewing.image
Conor Mac's avatar
Do you have this chart over a longer distance at hand?