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Well, I didn't either... Doesn't this suggest that, Fed or no Fed, it's an individual decision to hunt for yield or not? If so, shouldn't it be an individual responsibility?

Well, did you personally rush into bonds or high yield garbage?

These bond funds, as well as the money-mkt funds, are a scam to begin with... The fund managers who market these as "liquid" shouldn't be allowed to do so (this applies especially to the money funds), as I have mentioned a few times. I don't believe that a centrally imposed "exit fee" is the...

Well, Tony Blair is hardly a disinterested party in this whole Iraq discussion, so I am not sure we should listen to what he says. Moreover, he's a lying POS, but that's an entirely different discussion.

Much as I appreciate your hyperbole here, I am not entirely sure it's appropriate.

Oh, the irony... That Evil Authoritarian Vladimir Putin is turning out to be nearly 100% correct about Syria. It's almost painful to behold how the failures of American foreign policy in the ME are making Putin look like a prescient hero. In his famous NYT op-ed he even specifically mentions...

1. No, but does that really matter? There are many definitions and your way is as good as any, as long as you're aware of its caveats and flaws. The correct way, if you're using the 2y cash bond, is to take an appropriately weighted strip of ED contracts. 2. There are a few methodologies...

Wow...

It's a rather unfortunate misnomer to call the institutions entitled in the article "central banks". China's SAFE isn't a central bank by any stretch of the imagination, even though it's officially supposed to be a part of PBoC. SAFE, as well as SNB, Danmarks Nationalbank and Norges Bank, are...

That's a pretty epic fail right there... If the author actually bothered to stop and think about it for a bit, they would conclude that they're comparing apples to chihuahuas. Furthermore, concluding that more gambling goes on than hedging based on the gross derivative notional is the height...

We've had this discussion a number of times already. The notional is irrelevant.

Here's one thing that's not too wonderful about Japanese-style deflation:

What happens if SPY is at 191.50 at expiry? In which case are you going to lose more money (rhetorical question)?

Nothing is like the eurodollars in terms of liquidity, but there are STIRs in pretty much every mkt. Short sterling in GBP, BAs in CAD, IRs (and others) in AUD, etc...

I think you might be looking at the wrong Agincourt on the map. The proper French name for the place is Azincourt. It's a bit closer than Bastogne and Agincourt. Not that there's anything really to see there, tbh, but still...

Yes, the beaches are a surreal experience, well worth it... And the American cemetery is something else altogether. And, on a different note, Agincourt isn't very far from there either...

CDS contracts are derivatives, which are traded within an ISDA framework. This means that they're not really going to be available to regular retail clients.

Das Bunderverfassungsgericht (German Constitutional Court) didn't rule that Germany couldn't participate in QE. They sorta said that they have some issues with the various aspects of the OMT program (which is different to monetary policy QE that the ECB is talking about now), but mostly punted...

ECB's target rate lowered 75bps? How is that gonna work? And yes, ECB can legally do QE, at least in theory.

Maverick is correct...