JP Morgan, Hedges and 'Asymmetric Accounting'Wall Street JournalOpponents of portfolio hedging claim it is a back door for banks to engage in proprietary trades—although it remains unclear whether JP Morgan's loss-making positions were re…
Jitters over whether Greece will be forced out of the euro have turned the focus of policymakers in recent days on whether Greece is on…
When Gaia gets pissed off enough at the antics of humanity, she sends in her hit-man, Reality, to settle accounts. Reality is blessed with a cloak of invisibility. The human race is so busy concocting stories about what it is doing, that Reality steals onto the scene unnoticed – until bodies start to fall over, and the sort of bad political weather known as a shit-storm fills the skies, the streets, and the…
Early today 523 banks requested an unprecedented €489 billion ($640 billion) in super-cheap funding from the European Central Bank.
But the massive lending operation has garnered only a tepid response from markets, with short-term government bond y…
Yields on short-term peripheral sovereign bonds are plunging, despite the fact that EU leaders appeared to make little progress at their highly-anticipated summit last week.
Pundits continue to expound on the flaws of the eurozone but markets are tel…
Ilargi: It’s very simple, but maybe that’s the problem. For all I know it’s just too simple for people to see.
There’s a group of people, and it’s tempting to call them the 1%, but they’re not really, since there’s politicians in there too who …
The Treasury settled $49.7 billion in newly issued debt last week. Surprise, surprise, that’s almost the exact amount of MBS securities the Fed settled to…
FCBs appeared to show up at the auctions this week, but they were apparently selling paper in the market even faster. This looks to me…
We now have an inkling of how the Treasury will handle the paydown of $185 billion in Treasury CMBs. It will turn what would have…
