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  1. M

    Has the Fed realized QE isn't working?

    They're barking up completely the wrong tree...
  2. M

    Wide BAC CDS but low Ted spread

    Two main reasons: a) perceived riskless quality of a t-bill/UST is gone, so the "T" part of the spread isn't quite what it used to be. b) various backstops are now in place. There's more, but it would be a long discussion.
  3. M

    Good platforms for trading Bonds?

    To be sure, you just wanna buy bonds in your account, right? If so, the usual suspects, i.e. Fidelity, Charles Schwab, etc, are supposed to be good.
  4. M

    Global Macro Trading Journal

    So are the real money sellers...
  5. M

    Were the European markets more stable B4 the creation of the Euro

    EUR, unfortunately, resembles a CDO, in a variety of unpleasant ways.
  6. M

    Are There Flaws In Options Pricing?

    Yep, that's the current mkt convention, pretty universally (primarily because that's what the various exchanges have finally settled on).
  7. M

    Ann Coulters take on the UK riots

    Hahahahaha, that's some good sh1t right here, AAA...
  8. M

    Ann Coulters take on the UK riots

    Ironically, the system was created by the very same war generation that she believes was responsible for saving the entirety of Europe from the whole "Heil Hitler"/"Horst Wessel" fate.
  9. M

    Time to Short the US 2-Year Bond??

    Go for it, but you're gonna go for a nice ride when/if Europe wobbles properly again. Carry's nice and negative as well.
  10. M

    Global Macro Trading Journal

    You have to decide whether you're happy to run this risk. Even if I believed that there's very little chance they could go to the strike, I might still buy them back. I have dicked for a tick enough in the past to know the real costs of it. The only (marginal) question is what the transaction...
  11. M

    Global Macro Trading Journal

    I am flat and will go long a bit lower than here (talking about equities). I think it's all the SNB. People selling CHF and buying equities. Spooz are the new safe haven!
  12. M

    Any fx options trader here?

    OTC There's some liquidity in options on CME ccy futures, but it's nothing to write home about.
  13. M

    Global Macro Trading Journal

    Yep, this mention of a "nucular" option is what did it. It's gonna be a brave new world if they end up actually doing it. To be sure, they have also been buying back SNB bills and asking for prices in 2m fwds, so they're in full-on intervention mode. I think there's a realization that this...
  14. M

    Threat of negative interest rates leads to EUR/CHF rally....

    It's not so much the negative rates, as it's the threat of a "nucular bazooka" response from the SNB.
  15. M

    Are There Flaws In Options Pricing?

    Well, you should come to me to do some wonderful trades, amico... I make you nice prices. In seriousness, mate, don't get me started on the subject. I can talk about why using LIBOR rates is wrong for a long long time.
  16. M

    long term rates

    Why can't they go another 100bps?
  17. M

    Global Macro Trading Journal

    This is on the back of a story of some Asian banks pulling French banks' lines. Mkt's in a self-reinforcing panic mode here.
  18. M

    Global Macro Trading Journal

    To be sure, you wanna buy negative fwd LIBORs, expecting them to go more negative? P.S.: Doesn't look like CHF will be crashing for much longer, given what's happening in the mkt right now.
  19. M

    Would France Debt Be Downgraded?

    All three ratings agencies have come out yesterday and said that they have no plans to downgrade France. Every one of them has France on stable outlook.
  20. M

    Are There Flaws In Options Pricing?

    Actually, it doesn't... The Collector (Espen Haug) has talked a lot about the violations of put-call parity that do occur in very incomplete mkts. In general, it's a very robust principle, indeed, but you can easily imagine it breaking down.
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