The Interchange: Repo madness

This post first appeared in Ryan Todd’s weekly column “The Interchange,” which is sent to Genesis members’ inboxes every Friday morning. If you want to receive more exclusive daily content on our site and via daily newsletter, join today.

Ah yes. Another week, another supposed thing bitcoin can solve. This time the fragility of the U.S. financial system, and its current brittle repo market — which has almost as many closet pundits clamoring over its recent “meltdown” than last month’s inversion of the yield curve.