We just set a new record again.Italy now joined the pack. Today 19 economies have their 30-year yields below the Fed funds rate. Previous extremes proved to be a bad omen for the global economy. The Fed is cutting rates, and this count keeps rising. pic.twitter.com/C5kFHeux9H — Otavio (Tavi) Costa (@TaviCosta) September 29, 2019
https://www.cnbc.com/2019/10/01/charles-schwab-is-eliminating-online-commissions-for-trading-in-us-stocks-and-etfs.html “Charles Scwab said on Tuesday that it is ending commissions for online trading in U.S. stocks, exchange-traded funds and options. The changes will apply to securities on Canadian exchanges as well.” Wow that’s quite a game changer between SCHW and IB, the other brokerages are in big, deep shit if they can’t … Read more
by chaney3 Introducing the newest brand of full-blown autism™, I present to you the California / Europe ultimate bear portfolio! Based on a special blend of my extra chromosomes and a spicy mix of hate for California, this portfolio will blow average market returns out of the water based on the following assumptions (Cetaris Paribus): … Read more
Recent repo spikesare warning of another Crisis, but not aguarantee of one. Marketsare becoming illiquid.Despite FOMC rate cut inSeptember, policy needsto focus far more onbalance sheet expansion,i.e. QE. This will pushbond term premia higher.act@liquidity.com for report pic.twitter.com/xVAgQyT35r — CrossBorder Capital/ GLIndexes (@crossbordercap) September 22, 2019 EM liquidity slumps again in August despite strong rebound in … Read more
Can anyone recall the last time (if ever) that a hot IPO candidate resulted in the end removal if its founder/CEO and it bonds getting smashed. Is this the worst IPO screw-up in history? WEWORK BONDS DROP TO RECORD LOW, YIELD CLIMBS ABOVE 11% pic.twitter.com/PO7metjEz1 — Jim Bianco (@biancoresearch) September 30, 2019 Could WeWork bonds … Read more
via UPFINA Friday was a terrible day for economic data as we will review in this article. The disappointing August real consumption and core capital goods orders growth caused many Q3 GDP growth estimates to plummet. Oxford Economics’ estimate fell from 1.8% to 1.3%, Morgan Stanley’s estimate fell from 2.1% to 1.5%, and Macro Economic Advisors’ estimate fell … Read more
Disinflationary Pressure Is Building https://t.co/UGOiE1WhKj pic.twitter.com/uYd1uiz0UG — Eric Basmajian (@EPBResearch) September 30, 2019 While the Fed’s repo operations appear to have smoothed short term turbulence, Zoltan Pozsar, who wrote of potential problems back in August, has warned that more than technical actions are needed. Markets need “rate cuts that are aggressive enough to re-steepen the … Read more
Here's @GZEROMedia's coverage of a demonstrator being shot with live ammunition for the first time since Hong Kong's democracy protests began 4 months ago: https://t.co/PkChfJXQS8 — ian bremmer (@ianbremmer) October 2, 2019
https://www.youtube.com/watch?v=c8yjdmvYPBg
https://talktotransformer.com/ Better Language Models and Their Implications We’ve trained a large-scale unsupervised language model which generates coherent paragraphs of text, achieves state-of-the-art performance on many language modeling benchmarks, and performs rudimentary reading comprehension, machine translation, question answering, and summarization—all without task-specific training. h/t EmilioLizardo