Dismal's Smacks

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Gary Gensler going hard AF at Money Market Funds today:

"Money market funds and open-end bond funds, by their design, have a potential liquidity mismatch—between investors’ ability to redeem daily on the one hand, and on the other, funds’ securities holdings that may have lower liquidity." Hmm... Reddit Post

Based on Gary's comments, it would seem Short-term Investment Funds and Collective Investment Funds are trying to sacrifice the 'rest of us' to the bear? I wonder if it is 'Cocaine Bear'?

FICC Proposed Rule Change (OPEN for comment): "Currently messages regarding pair-offs are transmitted between buyers and sellers by electronic mail using spreadsheets, which creates some risk that information sharing is incomplete, incorrect, inconsistent

FICC Proposed Rule Change (OPEN for comment): "Currently messages regarding pair-offs are transmitted between buyers and sellers by electronic mail using spreadsheets, which creates some risk that information sharing is incomplete, incorrect, inconsistent and not timely." Has [REDACTED] exhibit. Source: https://www.sec.gov/rules/sro/ficc/2023/

Wow, even the May 2-3, 2023 Minutes of the Federal Open Market Committee (FOMC) AGREE: hedgies r fuk!!!

Inflation Alert! Fed's Christopher J. Waller: "Inflation Is Stubbornly High" "Almost no progress." "The news on core inflation was similar."

"I do not support stopping rate hikes unless we get clear evidence that inflation is moving down towards our 2 percent objective." Waller's words back hikes. https://www.federalreserve.gov/newsevents/speech/waller20230524a.htm Hike, Skip, or Pause? Governor Christopher J. Waller At the 2023 Santa

Minutes of the Federal Open Market Committee, May 2-3, 2023: "On a four-quarter change basis, total PCE price inflation was projected to be 3.1 percent this year, with core inflation at 3.8 percent." Remember, the Fed's target is 2%...

This is why Fed officials are saying more rate hikes are needed. https://www.federalreserve.gov/monetarypolicy/fomcminutes20230503.htm A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors on Tuesday,

SEC chair Gary Gensler on Short-term investment funds and Collective investment funds: "There is no limit on leverage, requirement for regular reporting on holdings to investors, or requirement for an independent board."

https://www.sec.gov/news/speech/gensler-remarks-investment-company-institute-05252023 “Bear in the Woods” Remarks before the Investment Company Institute Gary Gensler Highlights: "There is a saying when you’re in the woods. “You don’t have to outrun the bear; you just have to outrun one of your fellow campers.”"