In early September 2019 there was an unusual spike in rates in the repurchase (“repo”) market causing a liquidity squeeze on broker-dealers that use repos to finance their portfolios of Treasury and agency securities. It remains a mystery as to what catalyzed the liquidity squeeze. The response by the Federal Reserve Bank and market participants has created more uncertainty.
Why is this important to investors? U.S. money markets have been unnerved resulting in the Federal Reserve implementing daily interventions. It is thought by some that this has prevented repo contagion from infecting other key areas of finance, but for how long? Does our central bank need to take much grander action and put in place a long-term solution? What can we expect or even demand the Federal Open Market Committee do when it meets Oct. 29-30?
TheGlobal Interdepedence Center (GIC) is pleased to present two experts, Bob Eisenbeis and Chris Whalen, who will discuss what recent repo rate disruptions mean for monetary policy and market liquidity.
Bob Eisenbeis, Vice Chairman & Chief Monetary Economist of Cumberland Advisors, was formerly Executive Vice-President and Director of Research at the Federal Reserve Bank of Atlanta, where he advised the bank’s president on monetary policy for FOMC deliberations and was in charge of basic research and policy analysis.
Chris Whalen, Chairman of Whalen Global Advisors LLC, is a member of the Economic Advisory Committee of FINRA and has testified before Congress, the Securities and Exchange Commission, and the Federal Deposit Insurance Corporation on a range of financial, economic and political issues.
Together, they will present on recent developments in the repo market and be available for a discussion Q&A. This call will be moderated by Bill Kennedy, Chief Investment Officer of Fieldpoint Private and GIC Board Member.
This virtual event will be conducted Thursday, October 10th via the web and telephone dial-in from 12:00 to 12:30 p.m. EST. Participants will view a PowerPoint presentation online while listening to the speaker from a phone line. Attendees will participate from their offices or homes.
To Register or visit the GIC website for full details, please visit: https://www.interdependence.org/events/browse/repo-market-virtual-event/
Please note that space is limited for this virtual program. Don’t wait: Register today!
