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Huh? Obama? As noted in another post, this is really a very bizarre thing to say... [B] Well, you initially made some statements which I found strange, so I was asking you about them. As to money having value, seems like it does to me. I can buy stuff with money. If that ain't your...

You got it... And yeah, it's a somewhat esoteric world, so it's worth exploring it first, before you decide to dive in. There are some good books/papers that can help, if you need.

Yes, I mean current Fed stance. By "long the mkt trade" I mean that, at the moment, Eurodollar flattener trades behave like longs, i.e. the Eurodollar strip tends to flatten on a rally (rates going down) and steepen on a selloff (rates going up).

Dunno about other products, but in Eurodollars a long calendar spread position is defined as being long the nearer and short the further contract. And let's stick to a consistent terminology. So don't say "long interest rate", since that's very confusing. In rates, "long" is always used to...

So are you saying then that pretty much all businesses and their employees have benefited from Fed's QE?

Well, before we get to that, I wanted to make sure that I understood a couple of things that you mentioned. Specifically, QE has no value because "it's not like a factory that produces goods". Then you mentioned that "money has no value and represents debt". Are these accurate and do you...

The Fed did NOT bail out my industry. The Fed bailed out the banks. One could argue that my industry wouldn't exist w/o the banks, but, in that regard, we're not alone, I daresay. Furthermore, I'm not entirely clear how I was defending a particular "industry" here. And, one thing for sure...

Yes, correct, when you're long the calendar spread, you've got a steepener (long shorter-dated futures, short longer-dated futures). [B] Right, so if you've got a flattener (short shorter-dated futures, long longer-dated futures) you could potentially benefit from two possible outcomes: 1)...

Really? Is this your considered opinion? Do you have some way of actually demonstrating the truth of your rather bizarre statements?

Yep, I am a double double agent... In fact, I am really Janet Yellen & Ben Bernanke secret love child, but let's keep this our little secret, shall we?

If by "accumulation of interest" you mean "rolldown", then yes, but only if you're the right way around (and you're not accumulating anything). In this way, it's somewhat similar to buying longer-dated oil futures in a steeply backwardated oil futures curve.

So here's the thing... You need to think about the time dimension. Apart from the undoubtedly important question of whether rates rise or fall, there's also the almost equally important question of "when" do rates rise or fall. So, as an example, if you believe rates will stay low for a...

You're a little late to this party, my friend... I am pretty sure that a few peeps on this here site have referred to me as a "Fed shill" already. Still, I guess I have been promoted from "shill" to "Shill", which makes me feel all tingly and warm inside :). I am actually Lucas van Praag in...

Claiming "X will never trade below/above price Y" is not edge.

Your terminology isn't right. How do you define "convergence"? What's a "bear spread" in Eurodollars (there's no such thing)? What do you mean when you say "short the curve"? The correct terminology is "steepener/flattener" (steepener = long nearer contract, short further contract). A...

No, my opinions, which I have stated here a few times, haven't changed... My thoughts on this article are that it is rather silly on a whole variety of levels. But if I had to pick one thing that was especially amusing and entertaining, it would have to be the reference to Wolfgang...

Say what? This just makes no sense whatsoever...

Nobody other than the CNB board knows... Not you, not me, not some clever-sounding analyst. You could very well be right and they could be happy with the effects of their verbal intervention. The interesting question here is really what happens when the mkt decides to test them, like it did...

Well, pls don't let me take up your valuable time any more... Not that I understand what you said above. At any rate, m22, you might be interested to know that, according to the CNB's weekly FX reserves data, they only bought arnd EUR 1.8bn, which is less than what the mkt expected. Might...

Ah, indeed... The speed with which I responded was a coincidence, in this case.