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o/n RRP tightens systemic liquidity. RRP rates were a death blow to the bubble top rally. Cash reserves being sucked out of the system should widen the rates spread (OIS-LIBOR), and kill High Yield/Junk Bonds. NDX is just a HY derivative:Any rallies now should be faded, barring dovish changes in monetary policy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.