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Bond industry boss El-Erian urges the Fed to act early, otherwise the reduction will not be carried out in an orderly manner
El-Erian said “the time window is closing” to avoid market disruptions. At a time when the housing market is booming, El-Erian questioned the need to buy mortgage bonds. Regarding reduced debt purchases, Allianz chief economic adviser Mohammed El-Erian's suggestion to Fed Chairman Powell was to “act quickly.” The bond industry boss has been urging the Fed for many months to reduce the scale of asset purchases before inflation intensifies and impacts financial markets. A week ago, Powell said that the Federal Reserve may begin to cut prices in November and end debt purchases by mid-2022
The use of the Federal Reserve's overnight reverse repurchase tool reached $1.6 trillion on the last day of the quarter
On the last trading day of the third quarter, the amount of funds held by investors in one of the major instruments of the Federal Reserve reached a new high. On Thursday, 92 participants invested a total of $1.605 trillion in the Federal Reserve's overnight reverse repurchase facility (RRP). Counterparties such as money market funds can use this tool to deposit cash into central banks. The previous record high was $1.416 trillion set the day before. The amount added on Thursday was the biggest one-day increase since mid-June. The use of this tool has skyrocketed because investors need a place to store their short-term cash, and the US Treasury bill market is unbalanced — this is
The EU accounts for 10% of solar power generation, a record high.
The EU's solar power supply reached an all-time high in June and July, accounting for 10 per cent of the region's total electricity generation, according to a report released on Wednesday by Ember, an independent climate think-tank. In those two months, the 27 member states of the European Union generated nearly 39 TWh of solar energy, an increase of 10.9 TWh over the same period in 2018. With the increase in the production and use of solar panels, eight EU countries, including Spain and Germany, have also set new records, the report said. Ember analyst Charles Moore (Charles Moore) said: "Nuclear