A Simple 0.05% Increase Caused A $235 Billion Tsunami. Why?

The Repo market is the largest market that people do not know exists

The Fed raised the rate it pays on its Overnight Reverse Repo Facility from 0% to 0.05% at the end of its latest policy meeting, held last week.

While 5 basis points sounds miniscule, they’ve already created a $235 billion tsunami.

What are the implications?

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