@55 MARKETS / ACADEMY
Reserves, TGA, reverse repo and SOFR, explained with pipes
The Fed's plumbing
Where the money the Fed creates lives, what drains it, which rates warn before anything breaks, and why markets — and bitcoin — watch all of it.
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Your learning, step by step
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SYLLABUS
4 modules, 16 lessons.
Follow the sequence or go straight to the page you need.
The Fed's balance sheet
The money the Fed creates is always somewhere. Learn the boxes, what reserves are for, how QE and QT fill and empty them, and the one figure that sums it up.
Communicating vessels
The Treasury's account and the reverse repo: what fills them, what empties them, who decides, and why the same bond issuance can drain reserves one year and not the next.
The rates that really matter
How the Fed keeps its rate inside a range, what SOFR says that the Fed's rate does not, and the emergency doors — and the four episodes that explain them.
From the pipes to the markets
Why stocks and bitcoin watch liquidity, where the relationship holds and where it breaks, the role of stablecoins as buyers of Treasury bills, and a weekly dashboard.
Who is it for?
For anyone who has heard 'liquidity is drying up' and wants to know what that means in dollars. Take 'Read the economy with the thermometers' first if you can.
Part of the @55 Markets academy
Five free courses. Each lesson takes you to the live page it explains, so you practise with today's numbers, not with examples that went stale.
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