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Insufferable SOFR, Suffering

By |2021-02-12T16:52:09-05:00February 12th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Sometimes, the government will tell you a lot when it really doesn’t want to tell you anything. It’s not what they say, but what they don’t. In the case of the Treasury Department, there was a small, seemingly nondescript morsel buried down underneath the rest of its more immediately consequential next-quarter projections. While focused, quite rightly, on the scaling back [...]

Completely Full of It

By |2018-04-12T19:27:06-04:00April 12th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In June 2008, ICAP actually launched a US-based alternative to LIBOR. It ended up as nothing more than one very minor footnote lost in a sea of more pressing problems and events. Still, that they even tried is somewhat significant and relevant to today. Before the whole cheating scandal came out, there were questions surrounding just what LIBOR was indicating. [...]

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