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Primary Dealer Banks Showing Signs Of Global Collateral Tightening
There have been a whole bunch of ripples through the monetary system coming in from all angles pointing toward a sizable collateral disruption. The primary culprit(s) appears to be from Europe, starting in bond spreads surging off election uncertainty though we can't discount the ECB's rate cut as a factor. The eurodollar aftershocks are pronounced regardless of origin.
Eurodollar University's Money & Macro Analysis
IOSCO Securities Lending Transactions: Market Development and Implications
https://www.bis.org/cpmi/publ/d32.pdf
https://www.eurodollar.university
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