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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MNI Fed Balance Sheet Tracker - May 5, 2023
MNI Fed Balance Sheet Tracker - May 5, 2023
EXECUTIVE SUMMARY:
- Bank usage of Fed liquidity facilities continues to fade from March’s peak, with a 6th consecutive weekly decline.
- There isn't much sign of financial system duress from the perspective of the Fed's assets ledger, though that could change in coming weeks given that regional bank share prices are under renewed duress, which could portend a renewed bout of weakness underneath the surface.
- Chair Powell at Wednesday’s FOMC post-meeting press conference sounded calm about both the banking sector (“broadly improved since early March”) and the current configuration of policy tools.
- Powell said this week that the overnight reverse repo facility was serving its purpose “very well”, and it looks like no changes are imminent, either to ON RRP’s design or to the rates on offer.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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