From Maurice Pomery of Strategic Alpha
Keep The Faith….
We need to look at why the funding rates were cut. It is not because everything is better:
Firstly this action, coming in a timely fashion, was certainly warranted and shows a new resolve to act in a banking crisis. However it is the fact it was warranted is the problem and whilst it makes Dollar funding cheaper, it remains to be seen if banks trust each other enough to lend. I am not sure about this and the situation must have been
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