Recent content by Mr B

I worked there. After a few weeks of unsupervised and unprofitable simulated trading they gave me a form to sign which said that if I didn't make 15 ticks a day, 4 days a week on sim, for 2 weeks, they would fire me. I somehow or other made the ticks on sim and resigned about a month...

1. How has the "merger" with Penson affected GH? (reputation on the street, internal perception, etc...) It used to be more salaried traders, now it is mostly props. The people I used to work with who are still there are reportedly making big money post the merger. The whole Penson thing is...

in the late 1990s, the DM/USD had resistance at 1.42, when it closed above this level it went to 1.45. I think the eur/usd will behave the same, having closed this week very decisively above resistance at 1.42, it could move to 1.45 following in the footsteps of its ancestor. The DM/USD sold off...

Mind if I plagiarise this for my Oxford PHD? shrinking population? only new labour pool is Arabs? I haven't seen an Arab in ages, but a quarter of a million Eastern Europeans have moved to Ireland in the last 3 years, massively expanding the workforce. Ireland is a small country, lets...

eurozone manufacturing orders fell 1.1 points based on RBS survey. RBS services survey posted biggest drop since it began in 1998 per Bloomberg.

I love the way whenever a female journalist asks him a question he refers to her as "madame"

M3 is not the level of cash in the money market - money market volume is best measured by volume of 1mth and 3mth commercial paper sold each month, which has gone down like free beer in the last 10-15 weeks. M3 is the level of totally liquid cash in public possession when was the last time...

Fed, ECB and BoE don't need to hike rates again, the money market has already done it for them a few times over. big issue with the disparity between cash market and derivatives is that big banks hedge their cash exposures in the derivatives (swaps are following the FFs)- hence if the two are...

The ECB injected money into the overnight market, which is dealt in by banks with AAA ratings, hardly "irresponsible" - top quality debt at the shortest possible duration, risk free effectively. It doesn't matter who sold what in spot fx, it's the lending/borrowing market and paper market...

short dated bonds - ie 2 year or 5 year.

for those of us who work in the OTC money market, the ECB made a big difference today. sterling was doing over 6.25% at about 11am, then fell to the 5.80s after lunch (London time). this kind of volatility is highly abnormal for 30 year bonds let alone overnight markets. ECB stepped in...

broke trend line of last 40 odd days and stops got taken out. touched 40 day MA and bids came in, as per DJ which bounced at 40 day MA - 40 day MA being the fund manager's g spot. the initial selloff was perhaps because of Bernanke boring everyone to death about inflation targets.

they don't do it. typical bank prop trader uses a six figure stop loss and aims for 6 figure profit. scalping is out of the question. they refer to the money they make from bid offer spread as a chop generally. most banks have algo programs that scalp using systems, but they are...

don't worry, there's still plenty of time to go long usd/cad!

I want to see a close above 112.30-40 area before I go long euribor is at 4.5% for Christmas so we probably have few more hikes to come