I have a question for the bankers about reserve ratios. I have seen where the Fed has temporarily reduced their reserve requirement to 0%, but doesn't the BIS - Basel Committee have their own standards that banks have to follow, or are they just strong suggestions?
I understand all that about decay on the NAV, but what happened on Friday was DRIP market price trading at an obviously extreme premium over NAV. It’s normal to be off a few %, but the bids and asks drive the market price, and they went full retard on Friday. Do you think it’s the algos or humans that couldn’t set a fair price during the session?
Wow, I just checked the term structure here http://vixcentral.com/
Looks like VXX should benefit from massive backwardation for a while, as the VIX usually doesn't tail off that fast
Anyone follow the DRIP etf? Holy shit that etf is broken, this should be updated shortly to report today's price, but on Friday, DRIP closed at $426 vs. the NAV of $213
http://www.direxion.com/products/daily-sp-oil-gas-exp-prod-bull-3x-shares#
Looks like they may have narrowed that massive gap today, but WTF causing this?
Starting to see even some Repubs advocating for temporary household helicopter money, I thought that was only for "socialists"?
Not sure you can possibly ever put that genie back in the bottle once it's out?
Looks like there's usually not any lag to speak of historically in 10 yr UST and 30 yr mortgage rates, although the mortgage is not falling as fast this time.
https://fred.stlouisfed.org/graph/?g=omTO
Fed funds rate cuts seem like they don't really work , so here's a Fed President with some new ideas:
https://www.reuters.com/article/us-usa-fed-rosengren-idUSKBN20T2N1
I haven’t been following it that closely but I figured the Chinese who are not getting a paycheck are liquidating to pay for rice and to keep the lights on.