Higher interest rates, for longer.
Keeping an eye on stuff, including dollar liquidity swaps and Primary Credit.
With this kind of demand, it’s hard to imagine that inflation will just vanish.
Inflation moving “sideways” at very high levels for nearly a year and hasn’t come down meaningfully, Powell said yesterday, and as we see today.
There was a time when markets tried to force the Fed’s hand by crashing.
Workers still leveraging this historically tight labor market, but a little more cautiously?
The ECB’s horror show.
In several markets, prices plunged even faster than they’d spiked.
The price of consensual hallucination. Filing also lists $30 million SEC settlement, and huge amounts owed to unnamed “clients.”
Total liabilities dropped by $344 billion since QT began. Big shifts between liabilities: reserves already plunged by $1.12 trillion.