Serious FED RESV swap line $60 billions with S'pore..BIG TROUBLE!

[SalahParking]

SINGAPORE: The Monetary Authority of Singapore (MAS) announced on Thursday (Mar 19) the establishment of a US$60 billion (S$86.6 billion) swap facility with the US Federal Reserve, as the global economy comes under strain from the coronavirus outbreak.
Financial markets have been hit hard by the COVID-19 crisis as governments around the world ordered businesses to close and placed movement restrictions on their populations to limit its spread, shutting down large swathes of the global economy.

Advertisement

 

[SalahParking]

the last time this happen is 2009, fin. crisis...bit they did not drawdown...this time they are going to drawdown...Singapore in ICU

 

[whoami]

Fret not. PAP has CPF....worth trillions..

 

[SalahParking]

CPF have to cut to zero pct. No choice. Else the Govt will bankrupt. But this will be done after elections.

 

[SalahParking]

I think one large financial institution is in trouble. The USD suddenly turned up mid week, caught many offguard, I m sure there will be huge trading losses...guess who?

 

[laksaboy]

Fret not. PAP has CPF....worth trillions..

Good time for a reminder.

 

[laksaboy]

CPF have to cut to zero pct. No choice. Else the Govt will bankrupt. But this will be done after elections.

Will that affect the property market?

 

[SalahParking]

Will that affect the property market?

Depends.Maybe for some, if you are looking to buy, you're not, If you are a developer, maybe the small ones, If you are landlord, you r fucked.

 

[SalahParking]

I think MAS , GIC, Demsick is hoping that the market turns better, so that their skeletons are still in the closet. Trust me, many large companies will default in debt and go under. First to Kaput, Sembmarine.

 

[SalahParking]

DXY Short squeeze...many people MATI..

 

[SalahParking]

USD suddenly shot up 7%, dollar funding very very tight.

 

[SalahParking]

many SG corporates have USD bond debt..how to pay coupon and redeem?