In the Blind Spot (Carry trades, Farmers, The ESF)
This edition of the Blind Spot Wrap was compiled by Izabella Kaminska and Dario Garcia Giner. Apologies for typos and garbled text, but it’s been quite a week and we all need sleep! Banking crisis: A flashback from 2017, via Reuters: Stakeholders in Japan’s banking sector were concerned about Japanese banks’ exposure to American bonds, […]
Spot Markets Live Transcript (17/03/23)
The below is the transcript to Friday’s impromptu Spot Markets Live session. Izabella Kaminska 10:59Good Morning SMLers! I see some of you are nice and early 🙂 I’m back. It’s a Friday, my non-Politico day. And well, with what’s been going on, how could I possibly not do a session? Anjuli will be back on […]
And now Credit Suisse confirms it’s all about duration risk (which it allegedly doesn’t have)
Credit Suisse will be taking pre-emptive action to strengthen its liquidity, according to a press release issued in the early hours of Thursday, March 16. The move involves exercising an option to borrow 50bn Swiss francs from the Swiss National Bank under a covered loan facility, as well as a short-term liquidity facility. Both will […]
Why it’s all about duration risk and underwater bonds
If you find the below useful please do recommend. Mark-to-market is striking financial markets again. But it wasn’t supposed to be that way. Regulators spent years poring over the risks in the financial system. Volumes upon volumes of bank regulation were rolled out to make sure a global financial crisis could never take shape again. […]
Spot Markets Live Transcript (13/03/23)
Helen10:58 Hello Anjuli, Helen here logging in Anjuli Davies10:59 Good morning all Welcome to Spot Markets Live #siliconvalleyspecial As you can see we are joined again by Helen Thomas , she runs https://blondemoney.co.uk/ You were also with George Osborne in 2008 when Lehman was imploding? Helen11:00 Yes that’s right!! I remember sitting at my desk the […]
In the Blind Spot (Everything that got buried by Silicon Valley Bank news)
Even before the Silicon Valley Bank news dropped, we were on our way to a bumper edition of this week’s Blind Spot Wrap. To make everything a bit more palatable we made this week’s a two-parter. This second part has been compiled by moi, Izabella Kaminska. There’s a strong focus on media stories so I […]
In the Blind Spot (Silicon Valley Hubris)
This edition of The Blind Spot Wrap was interrupted by the collapse of Silicon Valley Bank. It’s now a two-parter, compiled by Izabella Kaminska. We will be back with the full wrap within 24 hours… because this week’s blind spots undoubtedly lie in the news being buried by Silicon Valley events. (And if you found this […]
An idiot’s guide to EU spending rule reform (POLITICO)
By Paola Tamma – Mar 8, 2023 Few issues better illustrate the tensions at the heart of the EU — north vs. south, Commission vs. capitals, rule sticklers vs. rule benders — than the way it polices government spending. Since rules were introduced alongside the single currency in the late 1990s, they have been variously […]
How disgruntled farmers brought the Flemish government to its knees (POLITICO)
By Nicolas Camut – Mar 7, 2023 Last week, thousands of Flemish farmers took to the streets of Brussels to protest plans to reduce nitrogen emissions from agriculture, which they say will put many out of business. A crisis in the Flemish regional government swiftly followed, bringing it to the brink of collapse. How did […]
Spot Markets Live Transcript (06/03/23)
Anjuli Davies10:57 … 10:59Good morning and welcome to Spot Markets Live, the weekly round-robin of stocks and markets news. Today I’m excited to be joined by David Kimberley, who works for Kepler Partners. Thanks for joining us today. and Izzy ! (who I saw lurking in the comments.) woohoo David should be here, or so […]