The Stock Market Rally Masks Liquidity Tightening Beneath The Surface

In this video, I review the week in which aggressive volatility selling overshadowed expected equity weakness from Treasury settlement pressures.

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In this video, I review the holiday-shortened week in which aggressive volatility selling overshadowed expected equity weakness from Treasury settlement pressures. Liquidity conditions tightened meaningfully, with repo rates rising and increased usage of the Standing Repo Facility signaling stress.
 

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