There are more worries and tension in the markets than usual, an update comes every minute about the number of the infected, which I disbelieve rather than do (because of the famous reliability of Chinese statistics, I used to live in socialism). Worried about Chinese banking system, German exposure, Asian currencies, supply chains, and I am increasingly sure that this is just the beginning, it will hardly wait for spring this year…
There comes a point when even I feel that there is a lot of daily information, and I am happy to read high-quality professional material, for example, these are what I can recommend to get ourselves out of the rat race.
Who are the biggest buyers in the stock market? I‘ve written this before, but this one is much more detailed and attention-grabbing:
The Fed is considering the introduction of the Standing Repo Facility, which I have already briefly reported here and here, and on the Concorde blog a clear and professionally accurate material has just been published. If anyone wants to understand why it is important to the markets, then I recommend this:
And here’s a 17th bank’s example is what happens to the SRF in the event of tail risk, (when everyone wants to go out the door at the same time):
My favorite analysts at Nordea are long ago writing about the new QE4 program:
Nordea, it’s from last year, but it’s topical, very much, because it’s again all about the Fed right now, even though we deny: