Two Presidents Walk into a Convenience Store
The people of New York were shocked when former President Donald Trump made an appearance at a bodega in Harlem amid his own court battle. Crowds of New Yorkers swarmed [...]
Italy today launched new debt in US dollars instead of euros in hopes of attracting dollar investors as the euro market continues to show signs of stress. They issued USD 2.5bn 5yr, USD 2bn 10yr, and USD 2.5bn 30yr.
We are in the end game now to have euro members begin issuing debt in US dollars. This is going to create further tensions between the Fed and ECB moving forward. The REPO market is still in crisis and the fears in Europe behind the curtain continue. This all puts the Fed and the ECB on a collision course.