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Home / Alhambra Investment Partners / Eurodollar University’s Making Sense; Episode 81, Part 2: A New(ish) Measure Of Collateral Shadow Money (How Repo Really Works)

Eurodollar University’s Making Sense; Episode 81, Part 2: A New(ish) Measure Of Collateral Shadow Money (How Repo Really Works)

Summary:
81.2 Introducing a NEW Measure of Shadow Money Pt. 2———Ep 81.2 Summary———Within the US Triparty Repo environment, utilizing data from the Federal Reserve Bank of New York, we observe that three dollar shortages between 2010-20 appeared as a stagnation and/or contraction in observations per repurchase agreement transaction. ———See It———– Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It———

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81.2 Introducing a NEW Measure of Shadow Money Pt. 2

———Ep 81.2 Summary———
Within the US Triparty Repo environment, utilizing data from the Federal Reserve Bank of New York, we observe that three dollar shortages between 2010-20 appeared as a stagnation and/or contraction in observations per repurchase agreement transaction.

———See It———–

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

———Hear It———

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———Ep 81.2 Topics———

00:45 Introducing one new way to measure what happens in the shadows of the monetary order.
03:56 An example, a bank pledges four assets to collateralize a repo cash borrowing.
06:55 An example, what happens if one of the assets pledged becomes less valuable?
08:29 An example, what happens if a cash borrower is unable to source enough collateral?
13:08 Federal Reserve Bank of New York data showing triparty repo data: number and observations
16:33 The triparty repo market collateral usage implies that reflation is not taking place
18:36 Federal Reserve Bank of New York data showing triparty repo data: total dollar value
21:16 A summary of the episode.

———Ep 81.2 References———

The Second Part of the Quantum of Money: Results From The Triparty Repo Experiment: https://bit.ly/3vSWzPs
NY FRB Tri-Party/GCF Repo: https://nyfed.org/2TxpV7B
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7

———Who———

Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski.

 


Jeffrey P. Snider
As Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheads the investment research efforts while providing close contact to Alhambra’s client base. His company is a global investment adviser, hence potential Swiss clients should not hesitate to contact AIP

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