October 18, 2025
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14:04Now PlayingMax from @UNFTR reports on two major developments in the financial markets. The first is the high profile private credit bankruptcies and the shocking case of $1.9 billion that has gone missing from one of these companies. The question now is whether these were isolated instances or something more systemic. As Jamie Dimon said in an earnings call, where there’s one cockroach there are usually more. The second development is the surprise liquidity shock this week that forced the Federal Reserve to step into the overnight settlement (repo) market. The worst part is that these two events might be correlated, which is a potentially catastrophic sign for the health of the U.S. economy. And the Trump administration is literally nowhere to be found.
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