Credit Suisse: Financial crisis over

Wednesday, 15 April 2020

Via Zoltan Pozsar at Credit Suisse:

The Fed’s liquidity injections are working.

Global dollar funding conditions have eased, and U.S. dollar Libor-OIS spreads started to tighten. We don’t think that lower prices on the CPFF or the MMLF are necessary for Libor-OIS to tighten more – other factors can tighten it further.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.