Its Over, page-1437

Bloomberg:
‘The moves underscored just how deep the structural problems in U.S. money markets have become. Namely, there is often not enough cash on hand at major Wall Street firms to meet the funding demands of a market trying to absorb record Treasury bond sales needed to cover U.S. budget deficits. […]
‘[M]any experts say, these wild few days show that there’s not enough reserves — or excess money that banks park at the Fed — in the banking system. That means traders are this week having to pay up to get these funds, even as bank reserves total more than $1 trillion. And it suggests the Fed may again have to grow its $3.8 trillion balance sheet through quantitative easing, or debt purchases that create fresh reserves.’
In short, there aren’t enough dollars in the system.

You may have remembered my earlier post stating that rates could spike when you least expect it to happen - it did during the GFC crisis (5 year TD was fetching 8% very briefly if you had the cash)- and just earlier this week we saw short term repo rates hitting 10% before the Fed swamped the market with liquidity.

Again, I repeat it is UNPRECEDENTED times, your conventional belief system about everything investing could soon all change ...very quickly.