Since 1973, Cumberland Advisors has been a trusted source for market expertise, personal service, and individual and institutional money management. We are an independent, fee-for-service money management firm managing over $3 billion in assets.
Fed Outstanding Repo Transactions March 3 – March 31 Fed repo transactions have been declining is volume both in terms of outstanding credit being supplied as well as in take-downs of the daily offerings. Today no one-day credit was applied for and only $250 million of the $45 billion 13 day-offering was taken down. Most […]
Fed Outstanding Repo Transactions March 3 – March 26 Liquidity needs in the repo market appear to have stabilized and transactions proposed are far below the amounts that the Fed is willing to buy from dealers. There was a slight bump up in demand for overnight funding, no doubt due to the uncertain status of […]
Tuesday morning March 9, the Federal Reserve Bank of New York announced an increase in the current monthly schedule of repo transactions designed to deal with short-term liquidity problems for primary dealers and certain other market participants: from $100 billion to $150 billion in overnight repos and for two-week term repos from $20 billion to […]
The Federal Reserve Bank of New York announced on Friday, Oct 4 that it would continue to offer a maximum of $75 billion in overnight repurchase agreements and at the same time offer a series of term repos through at least November 4 according to the following schedule:[1] This extension seems to be an attempt […]
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 […]
The week of September 16 saw the Federal Reserve Bank of New York inject funds into the repo market in response to an unusual spike in rates that was above the initial target range for the federal funds rate of 2.0–2.25%. (The target rate was lowered to 1.75–2.00% after the close of the FOMC’s meeting […]
