Yesterday, I calculated today’s forward price for the EUR/USD at 1.1210. Reuters reported at 12:11 pm EST a EUR/USD price of 1.1143. The dollar has been strengthening since 9:33 am when the USD was priced at 1.1192, falling slightly to 1.1182 around 11:02 am. (Ready for your next trader challenge? Visit https://traderswithedge.com/?r=348) NADEX at 9:43 … Continue reading Binary options snapshot from the NADEX at 12:11 EST
In the 24 hours since President Joe Biden announced that he would not seek the Democratic Party nomination for president, the press has been analyzing and forecasting the positions Ms. Harris may take on a number of social and fiscal policy issues. Because my focus is on the banking system, I tried to nail down … Continue reading Could Harris be moved to a position to spin a positive narrative on banking?
Reference rates per Board of Governors-Federal Reserve System Interest on Reserve Balances: 5.40% Discount Window Rate: 5.50% Effective Federal Funds Rate: 5.33% Foreign Exchange Rates reported by Board of Governors-Federal Reserve System AUD/USD=0.6607 NZD/USD=0.6020 USD/JPY=155.8500 GBP/USD=1.2528 EUR/USD=1.0773 USD/CAD=1.3663 USD/MXN=16.7650 Barr’s testimony before House financial services committee nothing to write home about … In his testimony … Continue reading Prop Trader News Scan as of 10:05 am EST; Federal Reserve considers banking system “resilient.”
I live in the 30310-zip code made up primarily of Atlanta’s West End neighborhood. There is a population of approximately 26,062 people with a median income of $24,604. 79.9% of the residents classify themselves as African American or black, while 12.4% of residents classify themselves as white or Caucasian. The unemployment rate hovers around 4.6%. … Continue reading Fed Day: The Community Reinvestment Act misses growth creation in low-income communities.
10-year bond yield and currency data from Bloomberg paint a quiet day in those markets. The GBP/USD stayed flat between 9:30 am to 4:15 pm with the rate going from 1.2686 to 1.2684. The EUR/USD was flat as well with ever so slight dollar weakening from 1.0847 to 1.0851 this afternoon. The Japanese yen demonstrated … Continue reading A quiet day yesterday in the United States as foreign exchange markets got ready for Asia to open.
Lineage is the framework through which I see myself in this political economy. My views on the political economy are steeped in observing my family members participate in trade. I saw members of both sides of my family in the Eastern Caribbean act as retail and wholesale merchants. Through merchant activity they brought their communities value. Value gets … Continue reading Domestic mercantilism keeps the race question out of banking …
The State sanctions a market for its currency and licenses private actors to buy and sell the currency. A market is a public, social program created to generate the transactions that lead to taxable revenue. Private actors participate in the program in exchange for the right to earn interest and trading income from the spreads between bids … Continue reading In the end, banks are merely privateers.
The takeaway …. Driving through the streets of Atlanta and new apartment building development appears on the rise. I shudder to think what rents may be for these new developments. I have seen prices for new multi-family developments in the East Atlanta/Inman Park/Reynoldstown area starting at purchase prices in the upper $500K range. Yes, the … Continue reading Georgia and the Fed: Is Atlanta putting too much housing supply out there?
Fed Funds Futures. 30-Day Federal Funds Futures rate=94.565 Source: CME Group. Federal Reserve Reference Rates. Discount window rate=5.50% Interest on reserve balances=5.40% Effective federal funds rate=5.33% Overnight reverse repo rate=5.30% Source: Board of Governors of the Federal Reserve System. Federal Reserve Bank of New York. (Ready for another trader challenge? https://traderswithedge.com/?r=348 ) Treasurys. 30-year rate=4.45% 10-year rate=4.34% Source: Board … Continue reading After a dip in yields, the Fed sees rates for the 30 and 10-year bonds tick back up. 10:16 pm EST, 22 August 2023.
Lawyers Write the Bets. Bankers Sell the Bets. 