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Why did the US Fed suddenly start Repo Operations at ATHs in the market after 10 years?

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So on Sep 17th the fed did a $75B repo which was only subscribed to $53B but the day before there was no problem.  The next two days have been oversubscribed as the Fed is maintaining $75B of excess liquidity in the market with stocks at ATHs.  Why is this?  Why can't the Fed maintain it's low interest rate target and why did it lower the target at the same time?  I hate using post hoc logic but look at this description of the oil trading on Sep 16 and Sep 17.

https://danngnews.com/2019/09/17/oil-jumps-nearly-15-in-record-trading-after-attack-on-saudi-facilities/

https://twitter.com/RobertMacMinn/status/1174756247683440640

Bob MacMinn @RobertMacMinn
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nice, also misunderstood is just how "deep" the $OIL market is, trading 5.9 billion barrels of oil on Monday/Tuesday, thats B for billion, vs. 200 mb of physical demand, liquidity in itself provides a buffer, if it was a tiny market it would be limit up for more than a few days

11:44 AM - 19 Sep 2019
 
Yet the following day the Fed issues the first Repo in 10 years and it's a massive one of $75B.  That same repo has been extended each day and oversubscribed the following two days.  The reason I think this happened is because a lot of people are heavily short oil and would have produced a Leahman like moment without this intervention.  The story on cheap oil is a lie, we are not in a glut as is constantly reiterated.  The Saudis themselves are a good representation of this by looking at their 10 year low inventories.  
 
The pushdown on the price of oil on Tuesday was the result of the availability of this free liquidity from the Fed.  The problem is that the Fed will have to pull this liquidity or explain what is broken.  So far all we see is headlines about the scope and size of the operations but no word about why such liquidity was needed?
 
Something is rotten in New York and the only thing I can see on the financial landscape that needed this kind of liquidity was the RECORD 5.9 Billion barrels of oil that traded hands on Monday.  Someone had to buy all that oil back at much higher prices than Friday.  Take $5.9B and multiply it by 10 and you get a number pretty close to the size of the repo.  If you ask me, the Fed is standing on the price of oil right now but the physical markets will expose the Fed sooner in this kind of real commodity market than anywhere else.

 

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Not going to say you are wrong as this is my WRONG set of tea cups to play with.

Here: is another answer: https://www.youtube.com/watch?v=MiC5Xw_p3xQ&t=1677s

30 mins long and his short answer is that EU bond market is rolling over and since they all have NEGATIVE interest rates you would have to be blarmy stupid to buy those bonds when you can buy US bonds with at least 2% interest rate and this forced a shortage. 

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(edited)

From Julian Brigden: 

One driver of the Fed's repo is the inversion of the curve. This has removed "cash and carry" buyers from the treasury market. As the primary dealers within the big banks have filled the gap it has pressuring their balance sheets. Unchecked this would have crowded out lending.

Impact of negatives yield on commodities explained 

https://www.voiceamerica.com/episode/116962/rocket-fuel-for-gold-impending-deeply-negative-interest-rates

 

Edited by DanilKa

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