11/03/18

Is A Dollar Funding Crisis Imminent: Libor-OIS Blows Out The Most Since 2012



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Is A Dollar Funding Crisis Imminent: Libor-OIS Blows Out The Most Since 2012
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Call it the latest paradox of bizarro centrally-planned markets.

On the same day when the Nasdaq hit a new all time high, when the Dow soared and when the payrolls report reincarnated the Goldilocks narrative with one flashing red average hourly earnings headline ("surging jobs + subdued wage growth = an economy that can handle 10Y yields at or above 3.0%"), one of the most closely followed leading indicators of an imminent funding crisis and global credit crunch finally broke above its 6 year range, when the USD Libor-OIS spread jumped 2bps on Friday, rising to 44.23bps.

This was the widest this critical spread has ....

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