A sale of securities with an agreement to buy them back later, which works as a short-term secured loan.
回购
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | The Bond King Says Don't Own Bonds. Look at Who Bought Them Instead. 回购 · 第 3 张术语卡 | Funding comes through repo, where a fund swaps securities for cash overnight. 回购市场是全球金融的「水管」：货币基金出资、交易商与对冲基金借入。水管一旦堵塞（如 2019 年 9 月），美联储必须下场放水，否则抵押品会被迫折价甩卖。 |