Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (71593)	11/23/2007 1:33:28 PM
From: Incitatus	Read Replies (2) of 116555

On Thursday, several news stories reported that the Fed “pumped $47.25 billion of liquidity into the banking system,” the highest total since September 2001 - but you'll find once again that $40.5 billion of that was pure rollovers of existing repos (which Thomson Financial noted in a news story the day before as my ballpark expectation). The rest is pre-holiday liquidity to accommodate demand for cash. As I read this, you are suggesting that the rollovers and pre-holiday liquidity is normal. If these amounts are normal, then why are they the highest since 9/11?

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