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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,

FDIC Quarterly Banking Profile First Quarter 2023: 137,729,743 Swaps in the first quarter of 2023 (+10.7% same point last year--in the first quarter of 2022, there were 124,396,704 swaps).

With this many swaps, it sure would be GREAT if CFTC was publishing swap data! Oh wait, they've hidden it... Reddit Post

Comparing FDIC Quarterly Banking Profile: 137,729,743 Swaps in the first quarter of 2023 (+27.86% from same point in 2021--in the first quarter of 2021, there were 107,718,346 swaps).

With this uptick in swaps, it sure would be GREAT if CFTC was publishing swap data! Oh wait, they've hidden it... Reddit Post

Why we should expect a rate hike in June: A review of what Fed officials have said and what incoming data is saying.

Good morning Superstonk! Jellyfish back with you to review what folks from the Fed have been saying and to pair it with data to show that we are likely to see a rate hike in June. Let's get to it! First, this all 'starts' back with

Commodity Futures Trading Commission staff advisory: All Derivatives Clearing Organization (“DCO”) Division of Clearing and Risk (“DCR”) Review of Risks Associated with Expansion of DCO Clearing of Digital Assets.

Source: https://www.cftc.gov/csl/23-07/download >Over the past several years, DCR has observed increased interest by DCOs and DCO applicants in expanding the types of products cleared and business lines, clearing models, and services offered by DCOs, including related to digital assets. DCR reminds registrants and

Weekend deep dive--revisiting Talis Putnis' 2009 article Naked Short Sales and Fails to Deliver An Overview of Clearing and Settlement Procedures for Stock Trades in the US

"The US clearing and settlement system does not provide any significant disincentives for naked short selling." Happy weekend Superstonk! I hope everyone is able to enjoy the long weekend with loved ones and remembering those who make it possible for us to be doing so. However, if you

Janet Yellen in letter to congress says Treasury is set to run out of money on June 5th.

Source: https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf >Dear Mr. Speaker: I am writing to follow up on my previous letters regarding the debt limit and to provide additional information regarding the Treasury Department’s ability to continue to finance the operations of the federal government. Since