Great question. I will point out that most of the money is made in the overnight REPO market, and those rates seem to be shooting higher even as the interest r

Great question. I will point out that most of the money is made in the overnight REPO market, and those rates seem to be shooting higher even as the interest rates are cut. I know, I am his biggest fan, but this is Matt Levine again on the REPO rates: https://www.bloomberg.com/opinion/articles/2019-09-30/a-repo-crisis-isn-t-all-bad https://www.bloomberg.com/opinion/articles/2019-09-30/a-repo...