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
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Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

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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.

 

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