Archive for October, 2016

September 2016 – Monthly Commentary

October 25, 2016  |   Monthly Commentary   |     |   0 Comment

September 2016 To state the obvious, capital markets are complicated and susceptible to occasional problems related to supply and demand imbalances.  Typically, the problems become magnified at quarter-end, and the just-ended quarter was especially so.  With the October 14th money market reform deadline looming, money funds continued to flood the market with corporate and municipal note sales, while boosting their demand for Treasury Bills and Notes.   That demand added to the quarterly “window dressing” that banks ...