Dismal's Smacks

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dismal-jellyfish

September Employment Situation Summary

Bureau of Labor Statistics: Employment rose by 336,000 in September. Average hourly earnings up .2% for the month and 4.2% for the year. More inflation fuel!

Highlights: * Total nonfarm payroll employment rose by 336,000 in September, and the unemployment rate was unchanged at 3.8 percent--analysts had been expecting 170,000 new workers and 3.7% unemployment... * The number of unemployed persons was essentially unchanged at 6.4 million. * The unemployment rates for adult men

No... No I don't think I will

Corporate Media: "You wanna tell me about your plan?" RCEO: "No... No I don't think I will"

Inspiration for this meme: https://x.com/ryancohen/status/1709785201763582158 Reddit Post Tweet

The exception FINRA want to insert.

Open for comment: FINRA proposes to add new paragraph (“Protected Options”) to FINRA Rule 4210 (Margin Requirements). Appears to exempt if a long call offsets a short put?

Below is the text of the proposed rule change. Proposed new language is underlined; proposed deletions are in brackets: Wut Mean? (I think): My understanding is there are 2 options plays that require margin, sold puts and sold calls. A sold put means that you need to have margin for

The Role of Research, Data, and Analysis in Banking Reforms

Fed Governor Michelle Bowman: "more than 65 percent of banking markets, as currently defined, would be considered noncompetitive or "concentrated" in the language of antitrust"

Highlights: * "In our current analytical framework, more than 65 percent of banking markets, as currently defined, would be considered noncompetitive or "concentrated" in the language of antitrust, yet the intense competition for banking products and services has only grown, principally from nonbanks. We need to reconcile that.

This document is scheduled to be published in the Federal Register on 10/04/2023

NSCC Alert! New Haircut schedule will be published in the Federal Register 10/4/23 & effective within 60 days. Why? IDIOSYNCRATIC RISK!

"Haircuts" Recall, it was on 9/22 NSCC submitted to update the definition around "Haircuts": This is a whopper of a statement: * "Through its review, NSCC has observed that under volatile market conditions with elevated frequency and magnitude of securities price movements, the collateral value

Vice Chair for Supervision Michael S. Barr: "I expect that the full effects of past tightening are yet to come in the months ahead."

Vice Chair for Supervision Michael S. Barr: "I expect that the full effects of past tightening are yet to come in the months ahead."

Highlights: * "I am squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. I strongly agree with the point that Chair Powell has made often, which is that without price stability, the economy does not work for anyone. Price stability is crucial

2/5's do not collect margin

September 2023 Senior Credit Officer Opinion Survey, special questions about trading of zero-days-to-expiry (0DTE) options: "Two-fifths of the dealers do not collect margin on 0DTE options."

Highlights: * Approximately two-fifths of dealers, on net, reported that they had increased the resources and attention they devoted to managing their concentrated credit exposure to other dealers and other financial intermediaries over the past three months--highest since June 2020. * Approximately one-fourth of dealers, on net, indicated increased funding demand for