Sudden Debt

 As we bid 2025 adieu, here is a list of what I think were the major themes of the past year and my views for the future. Donald Trump becam...

  Banks are repeatedly using the Fed's Standing Repo Facility (SRF)  recently, ie borrowing overnight funds directly from the Fed agains...

 The title may sound poetic but the subject is prosaic :) I was curious at the large earnings upside surprise announced by Micron Technologi...

Despite recent Fed rate cuts, long Treasury bond yields remain stubbornly high.  The chart below shows 3 month Tbill rates (black line) and ...

The news are everywhere, particularly amongst the breathless LinkedIn and Facebook pundits: The recent pivot of BOJ towards higher rates mar...

I readily profess that my working knowledge of computing goes back to FORTRAN IV - yes, punchcards and all! Therefore, today I use computers...

 Almost from the start of this blog what seems eons ago I pointed out that sending manufacturing to China in the name of consumer affordabil...

 The Bureau of Labor Statistics announced its loooong awaited non-farm payroll numbers today, delayed due to the government shutdown.  Here ...

Something has been bugging me for several weeks now: prices for US listed stocks are very high.  I mean absolute prices, not valuations base...

 A kind reader (thanks AKOC) asked what are the required reserves for US banks - ie deposits at the Fed or currency in their vaults.  As of ...