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Well, the really BIG problem with trading off of news is twofold:1. the person reading the news will have only a couple seconds to parse the news particulars and then determine whether the news is bullish or bearish; and 2. quite frequently the markets will move counter to the prevailing wisdom...

From my experience - the best commodity news services (actionable intelligence that you can actually speculate on) are always commodity-space specific. One great example is Platt's for hydrocarbon energy.

What a blow-out jobs report. Good gravy Marie. Year eleven of the recovery. Dangerous being a Bear and the Punch bowl is deeper than we all ever thought...

We do just an incredible amount of trades INTER market in energy and NONE of them include the prompt couple months... WTI, Brent, Gasoline, Gas-Oil, HO, NatGas - that forward curve term structure really moves around. All kinds of opportunities. There's just a constant ebb and flow between the...

Couple of points, 1. When you get hired at Bank Desk, you’re going to end up making OTC markets for commercial bank clients under the Orwellian oversight of a Desk Manager. You will have next to zero autonomy. This idea of a freshly minted Booth Business School MBA being given free reign to...

The salient point here is that unless you’re willing to: 1. Have an edge that you can clearly articulate to firm principal(s) during an interview, AND 2. Live in Chicago/NYC/London area and physically occupy the firm’s office space during trading hours; as far as futures go, you’ll need to...

Not true for any futures prop firm registered with the CME. Only firm principal(s) capital can be at risk, and the trader must be paid on a W-2 and listed as an employee. Dest is correct about futures prop firms - only a handful left. Mostly in Chicago with a smattering in NYC, London...

It gives US citizens and Companies greater purchasing power - until it reaches the inflection point where the stronger dollar mutes US exports and then it is very very bad for domestic employment and share prices. The US exports $2.5 Trillion per year and that inflection point will be quite...

Well, the Fed was forced into lowering rates by Draghi and the ECB. Right now, you see obnoxiously negative interest rates in the EU because the ECB is devaluing the Euro versus the Dollar in an effort to bolster EU exports. So yeah, the ECB started a currency war so there's that. But that's a...

Yes, the Fed is not buying repos they are buying T-Bills in the secondary market. And it is QE by another tag - they are by design bolstering demand. My point in my most recent post was that finally the Fed was actually meeting Bank demand for repos. What has been happening which created this...

The Fed keeps buying up the very collateral which banks need to post in order to buy the freaking Repo Agreements. Sort of a self-defeating if you ask me.

Well, at least today the Banks offered $55B in Treasuries and $15B in MBS and the Fed took them all in exchange for one day Repos. The Fed continues, however, to buy up Treasury Bills like drunken sailors - today they bought $7.5B, and said they will continue through the middle of 2020.

Yeah, when there’s a shit ton of a commodity available on the supply side - the thrill is gone.

Going from one contract to two is the most difficult sizing change in trading. I tell my clients to build account equity up to the point where personal comfort accommodates the bump. Going from 2 to 3 is not nearly so difficult.

Again, this is a case of the Fed lagging commercial demand - but it appears that they are being much more accommodating as of late. US Banks have plenty of funds to purchase Repo Agreements - once again it's the FED that's been lagging demand in providing them to purchasers. Note how Banks...

For a bank to borrow short term funds from another bank the lender will require security as collateral - In the United States this collateral is almost always US Treasury securities in order to obtain the lowest cost borrowing. What happens when the US government has bought up a large portion...

The US Government was BUYING Treasuries on the secondary market as part of QE. And MBS. To the tune of $40B per month. The idea being to grow the money supply. But that doesn’t increase the supply of short term government paper to loan on the interbank market - the opposite in fact.

Neither would get the most destructive parts of their agenda enacted without a ridiculous majority in both Houses. Ridiculous as in purple state Representatives and Senators get to vote “No” and the Bill still passes.

To wit: if Repo market liquidity was thought to be a systemic problem that threatened the integrity of US markets and interbank payment systems, the stock market would not be setting record after record. I can’t think of a more transparent market on planet Earth than the US Repo market. This...

Yeah, exactly. What would it take to get $4K Gold? Hong Kong getting invaded by the Chi-Com military and Trump getting shot dead the same day...