primary dealers – Page 2 – Lawyers Write the Bets. Bankers Sell the Bets.

August 25, 2023September 4, 2023

The Interbank: What the Federal Reserve is looking at in terms of rates at 8:35 am EST, 25 August 2023.

The quick take … The 30-year and 10-year bond rates appear to have reversed from yesterday. The longer term 30-year should in theory be higher than the 10-year. Our forte is not bond analysis but in theory this rate relationship typically indicates that the markets are seeing a decline in risk. The further out the … Continue reading The Interbank: What the Federal Reserve is looking at in terms of rates at 8:35 am EST, 25 August 2023.

August 19, 2023September 4, 2023

Of statecraft and governance: The market is regulated to maintain the fiction of democracy.

In the end, the market maker’s proximity to the rate decision and the data the market maker provides trumps at least the notion of democratic participation in a decision that impacts everyone in society. Continue reading Of statecraft and governance: The market is regulated to maintain the fiction of democracy.

August 16, 2023September 4, 2023

Primary Dealer News Scan as of 15 August 2023, 11:30 PM EST

Bank of Nova Scotia closes down on Tuesday 1.53% from its previous close. Source: The Globe and Mail. BNP Paribas announces buy back of its shares. “In accordance with Article 5 of Regulation (EU) No 596/2014 on Market Abuse and Article 3 (3) of Delegated Regulation (EU) 2016/1052 supplementing Regulation (EU) No 596/2014 through regulatory … Continue reading Primary Dealer News Scan as of 15 August 2023, 11:30 PM EST