Bond Market

Banks, Securities Markets, And Risk

Large bank corporations now tend to have both traditional lending divisions as well as securities market divisions. This was not ...
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The Yield Curve And Bank Net Interest Margins

One of the topics that comes up whenever government bond curves re-price is the relationship between the yield curve and ...
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Crypto Failures Versus Bank Failures

The ongoing collapse in cryptocurrency exchanges is attracting attention and schadenfreude. As an uninterested outside observer, all I can say ...
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Podcast

I was invited onto the MMT Podcast with Patricia Pino and Christian Reilly (thanks!): “What Is A Bond Vigilante And ...
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Primer: Bank Capital

Bank capital is the buffer on a bank’s balance sheet that allows it to absorb losses, particularly credit losses. Although ...
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Bank Liquidity Management Introduction

For modern financial systems, the key distinguishing characteristic of banks is that they key managers of the liquidity of the ...
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Runs, Cascades, Squeezes, and Crises

Recent discussions about bank runs in economics has led me to the conclusion that economists want to lump practically all ...
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The Markets Made Me Do It!

British Prime Minister sacked the Chancellor of the Exchequer (head of Treasury) Kwasi Kwarteng on Friday, and economic commentary was ...
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Initial Comments On Sissoko Paper: Money Markets

I ran across Carolyn Sissoko’s working paper “Financial dominance: why the ‘market maker of last resort’ is a bad idea ...
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