Crypto Super Yachts Are a Thing
Earlier this summer I was commissioned by Boat International to write a feature about what’s going on in the world of super yachts and crypto. That piece is now up for Boat International subscribers. As I noted on Twitter earlier today the TLDR is: Some people are selling superyachts for crypto, but mostly as a […]
ALTIF Transcripts: Britain’s Energy Mess (Nick Butler)
Britain’s Energy Mess How on earth did the UK end up having to fling £150bn at the energy market just to keep the lights on? Is it just because of Vladimir Putin, or does it also involve poor decisions taken far nearer to home? Neil and Jonathan talk to energy expert Nick Butler about the history […]
Spot Markets Live Transcript: 03/10/22
Today’s Spot Markets live session is with Anjuli Davies, formerly of the Telegraph and Reuters, Davies’ last posting was as Senior City Editor for the Telegraph, moving there from her role as Acting Chief UK Financial Correspondent for Reuters. Comments addressing audience statements are in bold. Izabella Kaminska 11:59 Hello everyone… Starting 1 min early […]
Defcon 1 Financial Contagion Fire-drill
Rumours are swirling about financial contagion, and certain institutions being up against it. I don’t have any insider information. All I can tell you is that I was on a prep call for an LBMA panel I am on later this month with Peter Zoellner, Head of the Banking Department at the Bank for International […]
In the Blind Spot (Regulatory Discount Curves, FX Swaps, Iran)
Business, Econ and Finance etc… The volume of sterling traded against Bitcoin exploded upwards to almost 11x the daily average during the peak of sterling’s troubles. People reportedly gathered in eastern Germany to protest their government’s energy policies, amidst large price rises following sanctions against Russia. Afghanistan’s Taliban sign deal to acquire Russian oil products, gas, […]
It’s Not QE, it’s a Very Naughty OMO
Just reposting my Twitter thread from earlier on Friday for the benefit of those who don’t necessarily check in on social media too regularly: THREAD: I really think the market's got the whole Gilt panic thing wrong. If you actually read the BoE market notice for this week's gilt purchases you will see this is […]
Changes to Intraday Funding Plumbing are Coming Sooner Than You Think
Subscribers of my weekly newsletter will know that I’ve been working on a multi-part series about the nature of our intraday funding systems for weeks now. And yes, I’ve been over promising and under-delivering on its publication for a while. One of the reasons for the delay is that the piece has massively grown in […]
This Week’s Gilt Moves are Probably Linked to Intraday Funding Failings
When it became apparent this week that LDI entities, such as insurers and pension funds, would need a large chunk of cash very quickly so as to not default on hedges… how do you think the story went down in money markets? Because, yes, defaulting on counterparts is bad. But in a cleared system, the […]
It’s not Gilts you should be worrying about… #standwithGBP
Here’s an uncomfortable truth for a Thursday morning. The Great British Krona and the gilt market are going to be just fine. If you’re British and your immediate reaction to this assertion is rage and a compulsion to tell the author they’re an idiot… we have to break it to you. You may be suffering […]
Spot Markets Live Transcript: 28/09/22
Today’s Spot Markets live session is with Neil Collins, co-host of the A Long Time in Finance podcast and former City Editor of the Daily Telegraph for 19 years. Comments directed at audience members are highlighted in bold. Izabella Kaminska 11:57 … Hello and welcome to Spot Markets Live, the real-time markets chat that takes […]