The Federal Reserve's direct loans to commercial banks rose to a record $101.9 billion yesterday versus $98.1 billion a week earlier as still-high money market rates encouraged more borrowing from the lender of last resort.
Borrowing by securities firms through the Fed's Primary Dealer Credit Facility totaled $133.9 billion, up from $123 billion, the central bank said today in its weekly report.
Bottom line. Enjoy. The next project is going to be deflating the bubble we are creating now. And so....we move from bubble to bubble. And then you wonder why the dollar has been weak for four years.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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