wholesale liquidity

Now SHIBOR?

By |2015-09-21T14:51:21-04:00September 21st, 2015|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Outwardly, you can appreciate why central banks act as they do under serious and dangerous circumstances. Prices aren’t just what someone will pay but also represent information that is transmitted broadly to all corners. Thus, if something is going wrong there are prices that will show it, potentially diffusing contagion to other places and markets. From a child-like perspective, it [...]

More Than The ‘Gamma Trap’

By |2015-02-17T17:27:04-05:00February 17th, 2015|Bonds, Economy, Federal Reserve/Monetary Policy, Markets|

Though it is now more than four months into the past, the events of October 15 remain relevant and will likely stay that way for some time to come. The mainstream seems to have made peace with the idea of electronic trading in some primordial state in treasury markets, but to anyone with even a little knowledge of credit markets [...]

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