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The U.S. Federal Reserve has established nine new lending facilities early in 2020 in its efforts to supply the entire world with dollar liquidity. The Fed is pumping Trillions of dollars into worldwide banking facilities. The Fed created a Commercial Paper Funding Facility and a Money Market...

These "top is in" threads are the most entertaining stuff on the site tbh.

That is some scary shit.:caution: The ECB is officially up shit creek. Stronger Euro and negative rates.

It's the Repo market, which has had some spikes the past couple years. The Ten Year Note has been selling off since the first of the year. It ran up pretty hard in Spring 2020. Much ado about the repo market. So unless you're a swaps or cash and carry basis trader it's not going to really...

I was hoping for some quality discussion, and then I saw this wave count garbage. Useless.

This is cannonballing:

He's already cannonballing positions, spitballing it and doing the same old shit. He won't last long adding to a strong move in Forex.

Ever since OPEC + decided that they were going to maintain the production limits, the bid on crude and distillates has been rather relentless. The market was not expecting that.

The S&P 500 has been holding a very strong trend line since March 2020. Up to this point, strong buying comes in every time the trend line is touched.

With a high quality spec home, you are working with very good plans. I don't see that with your latest trading venture. Why not test out systems on paper?

You're just asking to get your ass run over buying what you see as support or selling what you see as resistance. Usually what you see as "safe" isn't really so safe. Waiting for a "safe" support or resistance level in order to fade an established market trend is kinda shit risk/reward. I...

I heard a very famous and successful Bond Pit trader named Chip Kenyon give a talk in Chicago in the late '90's. He talked about how his trading really took off when he stopped "fighting" every market move. In fact, towards the end of his presentation - he called "adding" against the market a...

Research "US Treasury Basis Spread Trade". https://www.cmegroup.com/education/articles-and-reports/hedging-repo-exposure-in-the-treasury-basis.html

Another point to consider here is that generally speaking, southern utilities and power providers would be much more inclined to hedge the summer months than the winter months. Even in the Midwest, our winter loads would stay modest during the day, go up considerably in the evening and taper...

The other piece is correct FASB Hedge Accounting. My strong sense is that many of these firms would distribute the hedge profits to firm partners and distribute hedge losses to clients.

I'm not at all convinced that these competitive power suppliers necessarily have the financial bona fides to legitimately hedge in either the bilateral OTC market or in the financially settled exchange market. As you know, that is a substantial financial commitment. If they get caught out...

From what I've seen, Wall Street has been on the shitty side when it comes to trading power and transmission. The dedicated proprietary trading firms (that's you, Houston) and the energy trading desks at utilities are far more adept at it. I've seen (and confirmed through OTC brokers) some big...

His point was that "having a strong opinion" is pretty much wasted energy - but worse, it could get me into serious trouble. If I'm losing money tied to a position based on a strong biased opinion that circumstance tends to compound losses faster. People tend to be moored to their beliefs and...

The first rule that my mentor in the Bond Pit told me was to never argue with the market. It is what it is. Trade the market that you have in front of you. He told me that the market could care less what my opinion was, and that I hadn't earned the right to have an opinion. And it's a great...

Plenty of opportunities to find a rather low risk place to sell today. You didn't need to come into the session short in order to have a great day today. Every day the market sells off you just jizz all over yourself. :D Every day the market rallies you start thirteen new threads about how...