liquidity risks

LIBOR Was Expected To Drop. It Dropped. What Might This Mean?

By |2019-02-07T16:34:24-05:00February 7th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Everyone hates LIBOR, until it does something interesting. It used to be the most boring interest rate in the world. When it was that, it was also the most important. Though it followed along federal funds this was only because of the arb between onshore (NYC) and offshore (mainly London, sometimes Caymans) conducted by banks [...]

Finally Some Real Data…For November

By |2019-02-01T15:45:57-05:00February 1st, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The payroll report wasn’t actually the first. The Treasury Department filed its Treasury International Capital (TIC) update yesterday, about two weeks late due to the federal government shutdown. However, since nobody follows it and the figures relate to a lot that’s beyond the US economy it doesn’t count in the mainstream view. That’s a shame [...]