On Black Boxes, Trade Wars and the ABSD
Black Boxes In our pursuit of knowledge, there is nothing more frustrating than ignorance and the inability to figure out what is going on. No, we are not talking about the crazy market… Continue reading
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Singapore Bonds Mid Year Review : A Case of Sobriety in the Shrinking Bond Markets
It is impossible these days to talk about financial markets without talking about politics and since it is impossible to talk about politics given the fluidity in the global balance that would… Continue reading
Ad Hoc Commentary – the Italian Job
“Sometimes it is the people no one can imagine anything of who do the things no one can imagine.” Alan Turing The populists in Italy whom no one thought anything about are now… Continue reading
Trash Talking Global Warming and Global Garbage Wars on Earth Day
photo courtesy of Mr KC Kan, Ethiopia There is only the wilting heat on our minds for the entire week, brains sweating away as Spring started on the 21st of March and… Continue reading
Op-Ed : The Unpleasant and Troublesome Liquidity Problem in the Singapore Bond Market
It is not even near month end or quarter-end, 5 weeks into the start of the dramatic widening Libor-OIS spread that not too many retail investors are overly concerned about, we got to… Continue reading
Ad Hoc Commentary – rate hikes irrelevant as monetary transmission is broken
Yours truly apologize for not writing in recent times. Today is Fed Powell’s first meeting. Markets are very different today compared to the last Fed rate hike cycle of 2004-2006. Today, Fed Funds… Continue reading
Ad Hoc Commentary: Dodd-Frank rollbacks to fix monetary transmission via FX Swap
Monetary policy transmission is broken today as measured by the FX swap implied rate of US dollar versus Interest on Excess Reserves rate. Those who are still looking at Libor versus Fed Funds… Continue reading
Getting Ideas from an UnderDOG Singapore Budget
Feasting away on the Lunar New Year of the Dog, we received the 2018 Singapore Budget with a shrug even if it has been described by official reports and blogs as a brilliant… Continue reading
Lunar New Year Special : Let The Dogs Out
The Real Face of 2018 What a difference a week makes when we have a dear friend of mine deciding she needed those 2-dollar notes for her ang pows after all. She just… Continue reading
The Great Humbling – Markets Are Always Right
photo courtesy of Mr Eric Chong, Okinawa 2017. Why Think So Much And Be Too Smart ? The Great Humbling began when we spoke to a portfolio manager last week who told… Continue reading