Loading ...It looks like O/N Dollar rates were as Hi as 10 %, that normally means someone is in in big trouble, as no-one will lend to them at anything near normal rates and that the amount they need is v large…..
It is normally a sure sign of a bank run starting…….but so far we hear nothing, it might be a technical glitch, it might not.
Part of the problem is that the big banks don’t care/worry, as they correctly assume the Fed will bail it all out, in the old days when the Prime mkt was partnerships, u had a real mkt, because the money was the partners and if XYZ was in trouble, they pulled lending at anything less than penury rates or completely…..
But it sure ain’t normal or healthy.