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OMG! You Won’t Believe What Just Happened in the Repo Market
Repo. It’s back. Or more accurately, never really left. When we last left off with it, things were calming down which is not unusual in these circumstances. That didn’t mean it was a one-time, one-off matter, just that in the middle of the month there isn’t a whole lot going on. But now with the Thanksgiving holiday here and December approaching, repo rates are up, borrowing from the Fed is back, and in related developments the hedge fund-private credit world is getting spicier.
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