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Affected interest rates (and a target range) between 2014 and 2019

In September 2019, there was a sudden and unexpected spike in interest rates on overnight repurchase agreements (or "repos") – short-term loans between financial institutions. The interest rate on overnight repos in the United States increased from 2.43 percent on September 16 to 5.25 percent (graph shown). During the trading day, interest rates reached 10 percent. The Federal Reserve Bank of New York injected $75 billion into the repo market on September 17 and every morning for the rest of the week. On September 19, the Federal Reserve lowered the interest paid on bank reserves. These actions calmed the markets and, by September 20, rates had returned to a stable level. The Federal Reserve Bank of New York continued to regularly provide liquidity to the repo market until June 2020. Economists identified the main cause of the spike as a temporary shortage of cash available in the financial system, caused by the deadline for the payment of quarterly corporate taxes and the issuing of new Treasury securities. (Full article...)

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Did you know ...

Gaylord Perry

... that Gaylord Perry (pictured) admitted that he had cheated in baseball in his autobiography Me and the Spitter?
... that Jewish Indian theory, the erroneous idea that some lost tribes of Israel became ancestors to Native Americans, influenced the Book of Mormon?
... that Billie Eilish released two songs in July 2022, one of which was about a loved one's car accident?
... that a job offer from the Empire Cinema saved science fiction writer John Russell Fearn from factory-based war work that "damned near killed [him]"?
... that upon its completion, the Gwinnett Environmental & Heritage Center had the largest sloped green roof in the United States?
... that Ruffian Games co-developed Kinect games to stay in business after the release of Crackdown 2?
... that the National Football League record for career punting yards is more than 40 miles (65 km)?
... that "gambling lord" Hong Taechawanit's mansion in Thailand became a police station?

In the news

Jean-Luc Godard

French filmmaker Jean-Luc Godard (pictured) dies at the age of 91.
More than 210 soldiers die in renewed fighting in the border crisis between Armenia and Azerbaijan.
A magnitude 7.6 earthquake strikes Papua New Guinea, leaving at least seven people dead.
Elizabeth II, Queen of the United Kingdom and 14 other Commonwealth realms, dies at the age of 96 and is succeeded by her son King Charles III.

On this day

September 16: Arba'een / Arba'een Pilgrimage (Shia Islam, 2022)

Battle of Harlem Heights

1776 – American Revolutionary War: American colonists defeated British troops at the Battle of Harlem Heights (depicted) on the island of Manhattan.
1940 – Second World War: Italian forces captured the town of Sidi Barrani, but their invasion of Egypt progressed no further.
1961 – The U.S. National Hurricane Research Project sought to weaken Hurricane Esther by seeding it with silver iodide, leading to the establishment of Project Stormfury.
1982 – A Lebanese militia under the direct command of Elie Hobeika carried out a massacre in the Palestinian refugee camp of Sabra and Shatila, killing at least 460 civilians.
1990 – Construction of the Northern Xinjiang railway was completed between Ürümqi South and Alashankou, linking the railway lines of China and Kazakhstan, and adding a sizeable portion to the Eurasian Land Bridge.

Philip III of Navarre (d. 1343)
Marian Cruger Coffin (b. 1876)
Ahn Eak-tai (d. 1965)

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Filipino singer Kyla has recorded material for nine studio albums and one extended play (EP), and has been featured on songs on other artists' respective albums. After signing a record deal with EMI Philippines, Kyla began working on her debut album, Way to Your Heart, which was released in 2000. It included the single "Hanggang Ngayon", whose accompanying music video won the International Viewer's Choice Awards for Southeast Asia at the 2001 MTV Video Music Awards. She wrote two tracks on her eponymous second album, which was released in 2002. Kyla's third album, I Will Be There (2013), included the title track written by Ogie Alcasid and a collaboration with English boy band Blue. Her fourth album, Not Your Ordinary Girl (2004), featured tracks written by Keith Martin, while she co-wrote the title track for her 2006 release Beautiful Days. Kyla's next two albums—Heartfelt (2007) and Heart 2 Heart (2008)—were cover albums. She released her debut EP, Journey, in 2014 and collaborated with artists, including Yeng Constantino, Jay Durias, and Iñigo Pascual for her studio album The Queen of R&B in 2018. (Full list...)

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First page of the Codex Mendoza depicting the founding of Tenochtitlan

The Codex Mendoza is an Aztec codex believed to have been created around the year 1541. It contains a history of both the Aztec rulers and their conquests as well as a description of the daily life of pre-conquest Aztec society. The codex is written in the Nahuatl language utilizing traditional Aztec pictograms with a translation and explanation of the text provided in Spanish. It is named after Don Antonio de Mendoza, the viceroy of New Spain, and a leading patron of native artists.

This page depicts the founding of the Aztec capital Tenochtitlan, located on the site of the modern Mexico City. It is in the collection of the Bodleian Libraries in Oxford.

Manuscript credit: unknown

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