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Wilful Confusion

Last week the Treasury Select Committee released its report on the Bank of England version of Quantitative Tightening QT My friend Chris Marsh and I contributed written evidence to the

Room for Disappointment

Performance of the S amp P500 is receiving attention At the close of 6th February the index was 3 3 standard deviations above the mid point of our Estimated Fair

Have Cake & Eat It Too

Today I celebrated my birthday and Jerome Powell celebrated an FOMC meeting I reckon my cake was better than his 8211 see below So here s a gift some comments

Taming the Beast

The arrival of Bitcoin ETFs is a mark of respectability It was the federal government that gave the stamp of approval to crypto with its massive fiscal stimulus in 2020

The Biggest Trade in the World?

Public expressions from regulatory authorities about the cash futures basis suggests this trade is something to worry about The Fed the BIS the Bank of England and others have publicly

Development Lending: Big Loans, Big Groans and Volatility

In an era of geopolitical rivalry development aid attracts attention Talk of a Non Aligned movement has spluttered onto the news wires to join the recent revival of 1970s hairstyles

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Exorbitantprivilege unpicks the liquidity links of central banks, the dollar, international equities, bonds, commodities and currencies, plus a few other related themes – such as regulation. It showcases the pet rants of Meyrick Chapman, principal of Hedge Analytics Ltd.

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