KW: Tis but a scatch? Trouble in the markets? Sure thing but it’s going un noticed possibly by traders who have never seen a crash before and don’t believe its at all possible, ‘the FED has my back’ being the chant. Well yes but this is something else, the spike in overnight interest rates tells you something else is going on. If not corrected big institutions could even fail.
Panic? (Bloomberg) — The Federal Reserve took action to calm money markets on Tuesday, injecting billions in cash to quell a surge in short-term rates that was pushing up its policy benchmark…