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Move is the 1st of its kind since its 2008 financial crisis and the scary part is the fed still doesnt know what caused the spike so lets take a step back and really understand what the repo market is its essentially a short term borrowing market where banks and institutions lend to one another banks exchanging billions of dollars every day and overnight lending in order to maintain their reserve ratios now this borrowing isnt free you have to put up collateral usually in the form of treasuries or other tear one securities so under normal circumstances the repo market runs smoothly the rate is steady around 2 percent and the entire system is dependent on trust trust that the borrower can pay you back plus interest its a great way for commercial banks to make money now what happened here was when the rates suddenly spite we dont actually know what happened yet because we havent seen a spike like that since 2008 and in 2008 when the rate suddenly shot up indicating that there was a risk ....
Investigators are searching for a motive. Chris martinez has more. Reporter at this hour police along with the fbi they are still processing this shooting scene. Officials calling this a well planned attack. Authorities have revealed the identities of the two suspects, they believe are responsible for the mass shooting at inland regional center, the pair identified as 28 yearold Syed Rizwan Farouk, and his wife, 27 yearold Tashfeen Malik, fled the scene of the massacre in a black suv. Both suspects died in a gun battle with police, just 2 miles away from the shooting. Inside the suv investigators found assault rifles and semiautomatic hand guns. Based upon what we have seen and based upon how they were equipped there had to be some degree of planning that went into this. Reporter Officials Say farouk, an environmental ....
Help things out whole lot. Thirtythree is the current air temperature, not factoring the wind at the airport. Twentyseven in allentown, 17 in mount pocono, where you saw snow flying from the snow guns up at jack frost big boulder, and the problem is these temperatures arent going to climb hot local more from where they are right now. So kind of leveled off already. Twentysix in doylestown, 27 degrees in quakertown, there is the wind. Coming in out of the north, 16 Miles Per Hour, sustained in philadelphia. So thats ushering in the arctic air mass when you factor in the wind on exposed skin feels like 23, wilmington, philadelphia, 17. Up in the lehigh valley, allentown, these numbers may drop throughout the afternoon as well. Then tonight, it will feel like Single Digits, when you factor in the wind. Storm scan3, some clouds rolling on through, lake effect snow showers coming o ....
Lower 40s in philly but may in the quite feel that way as soon as win start to blow, vittoria. Not looking forward to that katie but thanks anyway. Yes. That was terrible. Good morning everyone. Traveling out and about this morning it is still looking pretty good, 6 01. This is time we we see that rush hour heat traveling on i95 around girard and even 76 westbound around city avenue but it is not often. We are still early. Ben franklin bridge looking great, heading in to new jersey pennsylvania, and it is all good. Also traveling on the vine street expressway, maybe heading in the westbound direction heading toward schuylkill or eastbound heading to i95 cutting through center city we have a clear shot. Speed sensors they are still high up but we are seeing that slight dip. Nothing serious just yet but give it 15 minutes and things will take a turn. Moving our way into new jersey we have an accident on 55 northbound at off ramp to route 47. We are getting word that there was a vehicle s ....
For sussex. They will bypass the watch, upgrading it straight to the warning because we could see 5 inches down through Sussex County delaware. Closer to the moisture source. New for morning drive it is all about location. If you are traveling take you further south watch out for it to be slow and slick. Further north you go you may not have much issues at all but a few flurries to add to the windry atmosphere. Cbs3 mobil weather lobbies out on the road trying to find snow flakes and for that we will go out to our live report with justin finch. I was going to say meteorologist Justin Drabick and i caught myself at the last second. It will happen, justin. Good morning, katie, yes. We are seeing snow flakes fall about 5 37 in mays landing. We first saw flakes falling as of right now closer to 6 00 right have after 6 00 and we are seeing flakes coming down heavier. I want to show ....