Eurodollar University cover image

Dollar funding crisis reaches...Switzerland. This isn't (just) Credit Suisse, though.

Eurodollar University

00:00

What Does Overseas Dollar Swaps Have to Do With Bear Sterns?

There were 67 some billion in overseas dollar swaps drawn during the summer of 2008, ever long before we got to Lehman Brothers and AIG. When dollar swaps go up like anything else on a central bank's balance sheet, that's when you know something is really wrong. One reason why curves have been so upside down and so persistently inverted over the last year is not just because the economy is poised precipitously toward recession, but there is massive gross deflationary potential all throughout the world.

Play episode from 14:49
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app