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I get what your saying here.. "Convergence" isn't relevant... Present discount value of a future cash flow.... maybe like future present value of an investment... so If the future value implies a cash flow.. You discount that future value to in present value terms.. such that what...

Will I ever be able to connect agreeing to loan, as similar to loaning.. I don't know haha.. Doesn't make sense.. The only thing that keeps the US out of a Japan situation is the fact that the entire world can't afford for the US to become Japan.. In my opinion.. But as they say... Don't...

Mav, What is ICPT? The front month doesn't have interest rate risk? Geez you lost me.. sorry..

buying the present discount value of a future cash flow.. hmmm haha.... Can you explain what the means?

Mav, I finished "inside the house of money" really made me think about a lot of things.. Alot of really gangster trader interviews.. They might not give you the expression these traders are using to execute their methods.. But you can catch clues as to the way they think about markets...

agreeing to lend notionally? isn't lending anything though.. When you buy a Eurodollar your betting that the future spot price will be higher or lower then what the implied rate is that you buy that Eurodollar future at. So if you believe rates were going to stay zero you could buy the...

What ETF flattener/steepener ETF's I've got 18 years sober but never full recovered my short term memory.. Thanks for always bearing with me Mav!

I talked in chat for a while. And resolved some of my questions about why the curve is positive sloping and where the pnl is derived from in trading spread/flys etc... Took me a minute to figure it out.. If the rate stays low they will converge to the future "low zero" rate.. But the...

I kind of thought of it when you are trading a long calender and it rolls off the curve you are making the changing preference of the market from long term interest rates to shorter term interest rates. As we know the market typically demands higher interest rates in exchange for tying their...

I don't understand how these are exotic combinations.. flys, condors, and spreads are like super common in intra contract spreading.... I don't consider that exotic.. I am just trying to get my mind about what risks i'm taking and were the PNL is being derived from in these trades..

I build it with my broker.. I'm with IB... The fly and spreads are quoted from the exchange. With TWS at IB I use combo trader to build a sheet of flys and just watch them as i visualize the curve changing.

4 three month spreads should trade at the same price the one year spread trades that is made up of them.. I realize I had that butterfly quoted backwards for the steepener expression.. A steepener fly is good for a rising interest rate environment.. Which is short the body.. Long the wings...

Is 20 dollars alot on 100? no.. My size is small so "big" is relative.. That will come in time as many of us with a small account work towards.. Whats the difference to you? Is my statement less legit if i'm not swinging 7 figures?

When I was younger I quite everything I wasn't good at or could not understand right away... That is different now .. I don't care how long it takes... It usually takes me a little longer then most to completely get things... But once I get it.. I know it like my name

Doesn't matter how long it takes to sink in...

I realize we are revisiting things I've already had awakings to... Let me soak this in again.... And reply when I'm by the computer

I don't know why I keep coming back to this sort of spot where i get stuck in my conception of the implicit Eurodollar curve.. What am i missing here.. If you buy your notionally lending.. But I thought this was just a bet on the future rate of interest.. meaning I'm taking a bet on what...

CL broke down below A down

Exactly . Tudor is gangster as they come... So is Fish

It says a lot when Paul Tudor Jones writes your foreword.. Just saying