Credit Suisse’s Zoltan Pozsar on sterilization, repo and FX Swaps (Premium)

Credit Suisse’s Zoltan Pozsar has written a master class on how money flows in today’s financial markets. It’s on the complicated side and you might need to read this article twice, but please do – it’s worth understanding how the mechanics work. Be sure to check out an important player in funding markets that is not often discussed: the US Treasury.
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