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Interbank Market News Scan: Federal funds, Treasury note, foreign exchange, and bitcoin data as of 8:15 am EST

30-Day Fed Funds Futures and Options (ZQV3): 95.205 Source: CME Group Effective Federal Funds Rate: 5.08% Federal Funds Target Range: 5.00% to 5.25% Discount Window Rate: 5.25% Interest on Reserve Balances: 5.15% Source: Board of Governors-Federal Reserve System U.S. Ten-year Treasurys: 3.392 Source: MarketWatch BTC/USD: Broker bid: 27718.6, Broker ask: 27765.6 GBP/USD: Broker bid: 1.26244, … Continue reading Interbank Market News Scan: Federal funds, Treasury note, foreign exchange, and bitcoin data as of 8:15 am EST

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Interbank Market News Scan: Where bitcoin, foreign exchange, Treasurys, and Fed administered rates stand at 10:23 am EST.

30-Day Federal Funds Options (June 2023 ZQM3): 94.92 Fed Funds Target Range: 5.00-5.25% Effective Federal Funds Rate: 5.08% Interest on Reserve Balances: 5.15% Discount Window Rate: 5.25% Two-year Treasurys: 4.00% Ten-year Treasurys: 3.52% Prime Rate: 8.25% EUR/USD: 1.1026 USD/CAD: 1.3419 GBP/USD: 1.2650 DXY: 101.36 BTC/USD: 28138 Sources: CME Group, Board of Governors-Federal Reserve, MarketWatch. Continue reading Interbank Market News Scan: Where bitcoin, foreign exchange, Treasurys, and Fed administered rates stand at 10:23 am EST.

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Interbank Market News Scan: Banks need a new philosophy.

The takeaway … Banking on a new philosophy. Is it time to make consumer lending by banks illegal? Yes. Consumers should raise cash from private individuals and households to the extent that the activities of these private individuals and households have no impact on the money supply. The focus of nationally chartered banks should be … Continue reading Interbank Market News Scan: Banks need a new philosophy.

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Interbank Market News Scan: The real free market is the one between commodities owners, merchants, and traders.

You would swear that America has a labor centric economic policy especially when jobs day comes around. The labor centric sentiment is fleeting. The inordinate amount of attention that is given to the Federal Reserve and monetary policy tells me its more about the financial markets and a lot less about the labor markets. Continue reading Interbank Market News Scan: The real free market is the one between commodities owners, merchants, and traders.

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Interbank Market News Scan: What the fed funds futures market is telling me …

The Federal Reserve Discount Window rate is up to 5.25% after the Federal Open Market Committee decided yesterday to increase its fed funds target range to 5.00% to 5.25%. At this writing, the Federal Funds Futures quote is 95.31 which reflects an average effective fed funds rate of 4.69%. Given that the target range was … Continue reading Interbank Market News Scan: What the fed funds futures market is telling me …

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Should the American State return to mercantilism?

The takeaway: Should the State change its economic policy … The Government (the Executive and his Cabinet), with State approval, chooses capitalism and democracy as the political economic plan (policy) for managing the nation-state’s tax and profit extraction process. Since government is a human system, its managers will go off script and introduce chaos into … Continue reading Should the American State return to mercantilism?

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The political party that wins the franchise on government should always think about yield.

The takeaway: Underwrite the political management company that understands yield… A very simple model of the needs of the State includes sustenance from bond yields, rents, and commodity prices. The Executive executes State power. The Congress codifies State power. The Judiciary clarifies State power. To maximize the yields acquired by the State, these powers should … Continue reading The political party that wins the franchise on government should always think about yield.

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The Community Reinvestment Act not an example of political outcome for blacks

Black politicians concerned about protecting their communities via banking should have been advocating that the Federal Reserve increase rates hard and fast. While the increase in rates would have been accompanied by a decrease in house prices, non-blacks would have thought twice about buying up black neighborhoods while black homeowners using data evincing falling values could have petitioned for lower property taxes based on those falling values. Continue reading The Community Reinvestment Act not an example of political outcome for blacks

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Interbank market news scan: Rates on Treasurys continue to inch up in week prior to Fed Day

On this first impression I expect both chambers of Congress to make the supposed banking crisis less of an issue especially as we move further into the campaign season. Congress, particularly congressional Democrats, do not want to be perceived as facilitators of a worsening political economy. Continue reading Interbank market news scan: Rates on Treasurys continue to inch up in week prior to Fed Day