Category: central banks

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Caribbean Law, Interbank and Money Markets: FX rates of interest as of 6:06 pm AST

Foreign exchange per the Board of Governors of the Federal Reserve System. EUR/USD=1.0872 GBP/USD=1.2917 USD/JPY=148.5100 Foreign exchange per the Eastern Caribbean Central Bank. USD/XCD=2.70 GBP/XCD=3.50703 EUR/XCD=2.95475 CAD/XCD=1.89095 JPY/XCD=0.01803 KWD/XCD=8.76751 AED/XCD=0.73513 NGN/XCD=0.00175 CNH/XCD=0.37372 Foreign exchange per the Central Bank of Barbados. USD/BBD=1.980000 GBP/BBD=2.545900 EUR/BBD=2.139360 CAD/BBD=1.382520 Foreign exchange per the Central Bank of Trinidad and Tobago. USD/TTD=6.7152 … Continue reading Caribbean Law, Interbank and Money Markets: FX rates of interest as of 6:06 pm AST

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Currency and money markets news scan: Will banks leave more money in their Federal Reserve bank vaults?

The takeaway: Will banks leave more money in their Federal Reserve bank vaults? Alejandro Riviera is upset today. He needs $200,000 per year in income in order to enjoy retirement with his wife, Anita, and the dog, Puff. Last week, with the two-year rate at 3.99%, Alejandro needed a portfolio of $5,012,531 to generate his … Continue reading Currency and money markets news scan: Will banks leave more money in their Federal Reserve bank vaults?

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Currency and money markets news scan: Don’t get triggered by the politics. One man is not the economy.

The Takeaway: Don’t get triggered by the politics. One man is not the economy. No amount of reason is going to quiet the Trump Derangement Syndrome running rampant through the electorate of the United States. I am in the camp that the President does not have a reach extensive enough to put a negative dent … Continue reading Currency and money markets news scan: Don’t get triggered by the politics. One man is not the economy.

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Currency and money markets news scan: Massie wants to end the Fed. That is low-hanging fruit.

The takeaway: Massie wants to end the Fed. That is low-hanging fruit. The Federal Reserve again finds itself as the political football for a congressman, this time in the name of U.S. Representative Thomas Massie. The Kentucky congressman today announced the introduction of HR 1846, the Federal Reserve Board Abolition Act. The Act would abolish … Continue reading Currency and money markets news scan: Massie wants to end the Fed. That is low-hanging fruit.

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Currency and money markets news scan: Three Fed reference rates see an uptick. China, Japan receive warning about weakening currency.

The takeaway: As Trump seeks to weaken the US currency, he calls out Japan and China for doing likewise. Joseph Adinolfi yesterday wrote for MarketWatch that supporters of President Trump as well as members of the administration would like the President to consider policy that would weaken the US dollar while maintaining the dollar’s status … Continue reading Currency and money markets news scan: Three Fed reference rates see an uptick. China, Japan receive warning about weakening currency.

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Interbank market news scan: Treasury yields continue their fall the wrong way. Congress not noticing.

The data …. The two-year, ten-year, and thirty-year Treasury rates continued their downward path today. According to data from the U.S. Treasury, the two-year rate moved from 4.07% to 4.05%. The ten-year rate fell from 4.30% to 4.25%, while the 30-year rate fell from 4.55% to 4.51%. Meanwhile, data from the Federal Reserve Bank of … Continue reading Interbank market news scan: Treasury yields continue their fall the wrong way. Congress not noticing.

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Interbank market news scan: HR 146 provides no rationale for prohibiting payment of interest on reserve balances

Tomorrow is President’s Day in the United States, so banks and the US government are closed for the holiday. Back on 9 January, I discussed the introduction of HR 146, Prohibition of IOER Act of 2025, a bill that would prohibit the payment of interest on reserve balances in excess of minimum requirements. During my … Continue reading Interbank market news scan: HR 146 provides no rationale for prohibiting payment of interest on reserve balances

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Interbank market news scan: Not much change in Federal Reserve Bank of New York reference rates.

U.S. Treasury rates The one-month, ten-year, and thirty-year Treasury rates moved down between 9:00 am this morning and 4:30 pm this afternoon. According to Treasury data, the one-month rate stayed relatively the same, moving from 4.38% to 4.37%. The ten-year rate fell from 4.62% to 4.52%, while the 30-year rate fell from 4.83% to 4.72%. … Continue reading Interbank market news scan: Not much change in Federal Reserve Bank of New York reference rates.

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Interbank market news scan: HR 146. Is the Federal Reserve System ready to stop paying interest on reserve balances?

U.S. Representative Warren Davidson, Republican of Ohio, last week fired across the bow of monetary policy by introducing HR 146, a bill to amend the Federal Reserve Act by prohibiting the payment of interest on excess reserves held at Federal reserve banks. (Ready for your next trader challenge? Visit https://traderswithedge.com/?r=348) Interest on excess reserves were … Continue reading Interbank market news scan: HR 146. Is the Federal Reserve System ready to stop paying interest on reserve balances?