TYBS - It's 'Funding' Mental

By Kevin Flanagan, Head of Fixed Income Strategy

I haven't had to blog about LIBOR and any attendant funding issues for a while… and that was the good news. Unfortunately, the negative market effects from the COVID-19 pandemic created a setting in the funding arena that needed to be addressed posthaste. The Federal Reserve (Fed) has thus far come to the rescue to avoid another financial crisis, realizing how vital it is to prevent another meltdown from a funding perspective.

We can all opine about how the Fed dropped rates to zero and kick-started its

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