while WE slept; FedEX?; bonds / related charts; UST liquidity remains impaired (and couple updated TERMINAL rate calls)
thebondbeat.substack.com
Good morning … welcome TO Friday and following yesterday’s absolute deluge of data, the upcoming weekend is much needed!! You’ll NEED a weekend after celebrating the day, today. John Auther’s of BBG frames it, Happy Black Wednesday Friday Margaret Thatcher always used to say that “you can’t buck the markets.” Having in 1990 been dragged very much against her will into joining the exchange rate mechanism of the European Monetary System (in which other EU currencies traded in a fixed band around the deutsche mark in what was intended as a precursor to the euro), she appeared to gain vindication 30 years ago today, when the UK government abandoned its attempt to keep the pound within the mechanism and let it float — which in practice meant that it let the currency collapse.
while WE slept; FedEX?; bonds / related charts; UST liquidity remains impaired (and couple updated TERMINAL rate calls)
while WE slept; FedEX?; bonds / related…
while WE slept; FedEX?; bonds / related charts; UST liquidity remains impaired (and couple updated TERMINAL rate calls)
Good morning … welcome TO Friday and following yesterday’s absolute deluge of data, the upcoming weekend is much needed!! You’ll NEED a weekend after celebrating the day, today. John Auther’s of BBG frames it, Happy Black Wednesday Friday Margaret Thatcher always used to say that “you can’t buck the markets.” Having in 1990 been dragged very much against her will into joining the exchange rate mechanism of the European Monetary System (in which other EU currencies traded in a fixed band around the deutsche mark in what was intended as a precursor to the euro), she appeared to gain vindication 30 years ago today, when the UK government abandoned its attempt to keep the pound within the mechanism and let it float — which in practice meant that it let the currency collapse.