tag:blogger.com,1999:blog-34323687.post8140454421254002365..comments2024-03-28T12:22:11.704+00:00Comments on Macro Man: More on Ratings Agencies and Consultants - What a bunch of quants!Macro Manhttp://www.blogger.com/profile/12324967552369915949noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-34323687.post-54416792674144764122022-02-10T03:02:44.792+00:002022-02-10T03:02:44.792+00:00The best top 1 casino website
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ซื้อหวยฮานอย...I think these must be useful to you. <br /><a href="https://ufajom.com/%e0%b8%8b%e0%b8%b7%e0%b9%89%e0%b8%ad%e0%b8%ab%e0%b8%a7%e0%b8%a2%e0%b8%ae%e0%b8%b2%e0%b8%99%e0%b8%ad%e0%b8%a2-%e0%b8%ad%e0%b8%ad%e0%b8%99%e0%b9%84%e0%b8%a5%e0%b8%99%e0%b9%8c-%e0%b8%aa%e0%b8%b3%e0%b8%ab/" rel="nofollow">ซื้อหวยฮานอย ออนไลน์ </a> <br />Thank you for your interest. chaneehttps://www.blogger.com/profile/04169657015356889907noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-88807686045618824812010-12-17T01:47:17.041+00:002010-12-17T01:47:17.041+00:00yeap… the world of finance is a long string of uni...yeap… the world of finance is a long string of uninteded consequences arising from "prudent" accounting and "prudent" behaviour. my all time favourite is implied 15y forward start 15y maturity usd libor vs aud fix, as it was back at the end of 2008. you could receive 90bp aud and receive usd libor as well (don't know if you could call it a "swap" any more), and pv implied by curves was zero. stayed like that for about 3 months too, for everybody to see. guess markets are extremely efficient, but only at showing accounting profit before the next bonus payment date. very probable gains beyond that date suddenly get discounted at 90% or so, to account for the probability of the trader being fired by then. <br /><br />I am not sure it's the disconnection between the risk controller and investment manager that is doing the most harm. my guess is that it's more to do with the reward system based on simplistic accounting, which has several unintended consequences, one of which is making almost everybody a short term investor. with such incentives, no wonder banks have found the path of least resistance to accounting profit in the form of complex long dated derivatives. it would never have been possible to show all that dodgy profit in the first place without the zeal of the supporters of "mark to market" accounting, precisely the people who want the world to be a better place, but don't quite get what is really happening.<br /><br />I'll receive some long end US, and a bit of PA as well in the futures.B. A.https://www.blogger.com/profile/07349828116672888275noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-43400549492579321882010-12-17T01:10:36.854+00:002010-12-17T01:10:36.854+00:00Well,I know which team this year caught the short ...Well,I know which team this year caught the short end of the crissy pom poms.....<br /><br />Merry Christmas, PoLIMEC , the stayers and EVERYONE out there.Unknownhttps://www.blogger.com/profile/11882601304613626929noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-24274493863166912212010-12-16T19:09:10.293+00:002010-12-16T19:09:10.293+00:00Yes, but if were only to release our inner Alvin T...Yes, but if were only to release our inner Alvin Tofflers... Concentrate.Charles Butlerhttps://www.blogger.com/profile/00486529931043507880noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-81836861305930044342010-12-16T18:17:01.423+00:002010-12-16T18:17:01.423+00:00Nemo,
We are the new Japan. Our yields will grind...Nemo,<br /><br />We are the new Japan. Our yields will grind lower in a series of zig-zag steps, as US savings rates increase, and Us housing continues to drift down or sideways, until we reach a state something like the present JGB yield curve. <br /><br />The periodic reversions in the bond market will become an annual rite, as a bearded man appears to announce the pagan festival of Quantitative Easing, triggering an outbreak of self-flagellation by bond investors as they seek risky assets in anticipation of The Great Inflation, that somehow never actually materializes.<br /><br />Markets take the stairs up, and the elevator down.Leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-12016649267776742812010-12-16T14:14:46.554+00:002010-12-16T14:14:46.554+00:00LB, I am part of the treasuries hate squad but I r...LB, I am part of the treasuries hate squad but I recently bought some 30 years and covered the 10 yr short. This is getting completely effing insane. You had to be smoking crack to buy over 130 but south of 120 you better be damn sure we're going to fiscal apocalypse next year. Keeping the JGB short though - aging = pension withdrawrals = no one to roll your turds as maturities come due. Can't say we are quite there yet in the US, though with the current political environment it might take a 105 print on USA to get those guys' attention.Nemo Incognitohttps://www.blogger.com/profile/07345185457108156269noreply@blogger.comtag:blogger.com,1999:blog-34323687.post-34989531543161198302010-12-16T10:39:55.983+00:002010-12-16T10:39:55.983+00:00@ anonymous 5:47
How about due diligence and some...@ anonymous 5:47<br /><br />How about due diligence and some personal accountability/staked reputation on fund managers?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-10247577499257397982010-12-16T05:47:02.312+00:002010-12-16T05:47:02.312+00:00What would be the solution for replacing rating ag...What would be the solution for replacing rating agencies?<br /><br />It seems like they have done a lot of damage in marking things up AAA when they shouldnt have and as your post suggests are doing the same on the way down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-5249574753127530062010-12-15T18:29:14.639+00:002010-12-15T18:29:14.639+00:00Apparently the fun is not yet over in US fixed inc...Apparently the fun is not yet over in US fixed income for 2010, as the steepener continues to grind despite today's sizzling 0.1% CPI number.<br /><br />2s10s is 282 bps. [300 bps is the limit].<br />10s30s is 111 bps. [125 bps is the limit?].<br /><br />The long end is starting to scream BUY ME. Am I the only one expecting another soft patch in US retail and industrial production? When reality returns in January do we see a resumption of the Bull Flattener?Leftbacknoreply@blogger.comtag:blogger.com,1999:blog-34323687.post-24213905374268701292010-12-15T12:40:08.883+00:002010-12-15T12:40:08.883+00:00As usual for the last while, that high pitched jin...As usual for the last while, that high pitched jingling sound you hear behind the Moody's roar emanating from the press monolith accompanies the handing off of soon-to-be-tired positions. ES 10's and 5's up 10 and back to square one in five hours.<br /><br />That pink blog mocked her this morning, but the wise might take to heart Ms. Salgado's most recent comments. Hard to win at blackjack if you can't remember the cards that were dealt.Charles Butlerhttps://www.blogger.com/profile/00486529931043507880noreply@blogger.com