Sign in Subscribe

Latest

FINRA 'discipline' Alert! Citigroup incorrectly stated that it was acting as an agent (a middleman facilitating the trade between two parties) when it was actually trading as a principal (trading for its own account) on 37,000 transactions.

FINRA 'discipline' Alert! Citigroup incorrectly stated that it was acting as an agent (a middleman facilitating the trade between two parties) when it was actually trading as a principal (trading for its own account) on 37,000 transactions.

TLDRS: * From October 2016-July 2020, Citigroup incorrectly stated that it was acting as an agent (a middleman facilitating the trade between two parties) when it was actually trading as a principal (trading out of its own account). * Citigroup incorrectly reported its role in 37,000 trades. * If these inaccuracies relate
dismal-jellyfish ๐Ÿ“ฐ News
In July, consumer credit (AKA DEBT) increased at a seasonally adjusted annual rate of 2.5 percent. Revolving credit (Credit cards) increased at an annual rate of 9.2 percent

In July, consumer credit (AKA DEBT) increased at a seasonally adjusted annual rate of 2.5 percent. Revolving credit (Credit cards) increased at an annual rate of 9.2 percent

TLDRS: * Total consumer credit increased at an annual rate of 2.5% in July 2023. * Revolving credit (which includes credit cards) grew at an annual rate of 9.2% in July 2023. * Nonrevolving credit (which includes loans for things like cars and education) increased at .2%. * Regarding the total outstanding
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
NY Fed August 2023 Survey of Consumer Expectations: "job loss expectations rose sharply to its highest level since April 2021."

NY Fed August 2023 Survey of Consumer Expectations: "job loss expectations rose sharply to its highest level since April 2021."

TLDRS: Households right now: * Income growth perceptions declined in August, and job loss expectations rose sharply to its highest level since April 2021. * Perceptions about current credit conditions and expectations about future conditions both deteriorated. * Householdsโ€™ perceptions about their current financial situations and expectations for the future also deteriorated. Wut
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics
"Similar to the role of securitization during the GFC, tokenization can potentially disguise riskier or illiquid reference assets as safe and easily tradeable, possibly encouraging higher leverage and risk-taking."

"Similar to the role of securitization during the GFC, tokenization can potentially disguise riskier or illiquid reference assets as safe and easily tradeable, possibly encouraging higher leverage and risk-taking."

TLDRS: Are the authors from the Fed saying the quite part out loud? Tokenized GME can potentially disguise riskier or illiquid reference assets as safe and easily tradeable, possibly encouraging higher leverage and risk-taking?!?!?!?! * "Finally, similar to the role of securitization during the GFC, tokenization can potentially disguise riskier
dismal-jellyfish ๐Ÿค” Speculation / Opinion
Bank Run Alert! $70 billion withdrawn from commercial banks last week (8/23-8/30). $889 billion in deposits has been pulled since the all time hit 4/13/22. It looks like the bank run is back to picking up speed!

Bank Run Alert! $70 billion withdrawn from commercial banks last week (8/23-8/30). $889 billion in deposits has been pulled since the all time hit 4/13/22. It looks like the bank run is back to picking up speed!

TLDRS: * Folks have pulled $889 billion in deposits since 4/13/2022 * Folks have pulled $421 billion in deposits since 2/22/2023 * Folks have pulled $70 billion in deposits in the last week. * Borrowing from the liquidity fairy via BTFP continues to make up for a shrinking M2 and
dismal-jellyfish
Fed's Michael S. Barr "We continue to speak to a broad range of stakeholders and conduct basic research in emerging technologies that might support a CBDC payments backbone, or for other purposes in the existing payments system."

Fed's Michael S. Barr "We continue to speak to a broad range of stakeholders and conduct basic research in emerging technologies that might support a CBDC payments backbone, or for other purposes in the existing payments system."

TLDRS: * More talk of CBDC Highlights: "We continue to speak to a broad range of stakeholders and conduct basic research in emerging technologies that might support a CBDC payments backbone, or for other purposes in the existing payments system." * "For example, the Fed's CBDC research
dismal-jellyfish ๐Ÿ“ฐ News