The S & P 500 slid for the fourth time in five sessions. Equities were initially flat with attention focused on the impeachment drama until the announcement that the US is unlikely to extend a waiver allowing American firms to supply China’s Huawei Technologies....

Is there a liquidity crisis? Yesterday’s repo auction was oversubscribed by a factor of two. However yields did not spike. The Fed is providing the necessary liquidity, operating in its most foremost capacity of being the “banker’s banker,” the lender of last...

Yesterday was an uneventful day. The repo market operated flawlessly. Equites were essentially flat. Treasuries were nominally higher. Crude was positive. Domestic economic data continued to demonstrate strength...

In my view the conversation is intense amongst brokerage professionals who have knowledge about Fed policy as to why the Fed conducting its fourth consecutive repo operation. Before Tuesday, the last time the Fed intervened was ...

Life is stranger than fiction. Saudi Arabia says attacks were “unquestionably” sponsored by Iran; an attack that caught all flat footed and was thought impossible. As noted the other day, this is a massive escalation, perhaps on the same level as the Iraqi...

Only history knows the ultimate outcome of the drone attacks. What is definitively known is oil instillations are not impregnable. That illusion was shattered just as past illusions of invincibility such as the Great Wall of China and the...

Only history knows the ultimate outcome of the drone attacks. What is definitively known is oil instillations are not impregnable. That illusion was shattered just as past illusions of invincibility such as the Great Wall of China and the...