IS the Crisis over? |
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Today’s comment Majors & Scandies By the Majors & Scandis Team Yesterday the major central banks (FED, ECB, BOJ, BoE, BoC, and SNB) announced coordinated efforts to address the elevated pressure on the short-term US dollar funding. The FOMC opened swap lines to the other central banks to provide dollar funding for both term and O/N liquidity (ECB: $180 billion, SNB: $27 billion, BOJ: $60 billion, BoE: $40, and BoC: $10 billion). The immediate reaction in the market was relief, but it
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