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dismal-jellyfish

dismal-jellyfish

FTD Alert! Daily Total US Treasury Fails creep up during the month of May (averaging $35.77 billion per day), while Agency fails hit a 52 week High at $4.05 billion.

Source: https://www.dtcc.com/charts/daily-total-us-treasury-trade-fails What do these charts show? They show the value of U.S. Treasury securities that were not delivered to fulfill a trade contract. โ€œFailures-to-deliverโ€ occur when either sellers fail to deliver or buyers fail to receive securities in time to settle a trade.
dismal-jellyfish ๐Ÿ“Š Data

Commodity Futures Trading Commission (CFTC) Alert! CFTC to hold an OPEN meeting Wednesday, June 7 from 9:30 a.m. โ€“ 4:00 p.m. (EDT to consider: Final Rule: Governance Requirements for Derivatives Clearing Organizations, 3 proposed rules, and one amendment.

https://www.cftc.gov/media/8631/Federal%20Register:%20Sunshine%20Act%20Meetings/download The Commission will consider the following: * Final Rule: Governance Requirements for Derivatives Clearing Organizations * Proposed Rule: Derivatives Clearing Organizations Recovery and Orderly Wind-down Plans (The SEC has a similar rule up: https://www.federalregister.gov/documents/2023/05/
dismal-jellyfish ๐Ÿงฑ Market Reform

A big short in Treasury's? Traders are building up bets around a debt ceiling resolution

Source: https://www.marketwatch.com/story/a-big-short-in-treasurys-traders-are-building-up-bets-around-a-debt-ceiling-resolution-5aedee28 Speculators have been building up a โ€œhistorically massiveโ€ short position in U.S. Treasury futures ahead of what could be $1 trillion of new debt issuance on the heels of a debt-ceiling resolution, according to Macquarieโ€™s sales and trading global macro strategy
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

Federal Reserve Alert! Get ready for a new 'recession' definition! From today's Fed beige book - May 31, 2023: "Demand for transportation services was down, especially in trucking, where contacts reported there was a "freight recession.""

https://www.federalreserve.gov/monetarypolicy/beigebook20230531.htm Overall Economic Activity * Economic activity was little changed overall in April and early May. * Four Districts reported small increases in activity, six no change, and two slight to moderate declines. * Expectations for future growth deteriorated a little, though contacts still largely expected a
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

Fed Governor Jefferson: "While my base case forecast for the U.S. economy is not a recession, higher interest rates and lower earnings could test the ability of businesses to service debt"

https://www.federalreserve.gov/newsevents/speech/jefferson20230531a.htm Financial Stability and the U.S. Economy Governor Philip N. Jefferson At the 22nd Annual International Conference on Policy Challenges for the Financial Sector, Washington, D.C. Highlights: * While my base case forecast for the U.S. economy is not a recession,
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics