Q&A #29
Does anyone really know why Solly cheated at UST auctions 30 years ago? Where was Jay Powell during that episode? What can we make of the dollar’s decline over the past few months until recently? How much of that might be related to collateral? Who would benefit from SOFR being such a bad LIBOR replacement? How can we get people to realize the Fed doesn’t even control a risk-free rate rather than all of them?
