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Friday, December 3, 2021
something-just-snapped:-chaos-hits-repo-market-as-“dollar-funding-storm”-makes-thunderous-landfall

Something Just Snapped: Chaos Hits Repo Market As “Dollar Funding Storm” Makes Thunderous Landfall

Late last Friday, we warned that a "dollar funding storm" is set to make landfall in the US amid a series of converging sources of pressure that we said would result in "secured funding markets breaking higher", among which: elevated UST supply, bloated dealer balance sheets and year-end regulatory constraints, and a banking system near…
the-smiledirectclub-ipo-did-something-not-seen-since-the-financial-crisis

The SmileDirectClub IPO Did Something Not Seen Since The Financial Crisis

Has the unprecedented greed and stupidity of WeWork and its CEO Adam Neumann burst the IPO bubble? One look at the just IPOed stock of SmileDirectClub would suggest that the answer is yes: after going public at a price of $23/share, pricing above range, the stock has tumbled 12% on its first day of trading,…
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