Banks: The Big Picture
The Macro Trading Floor
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The Domestic Debt Flight From Saving Accounts to Money Market Funds
The swap lines between the Federal Reserve and Western central banks are priced at minus 50 basis points equivalent to the cross-currency basis market. It's not atypical to see a move from saving accounts to money market funds in times of high yielding periods, he says. A typical bank would like to have a at least positively sloping yield curve to be able to make money.
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