This article continues the previous discussion of bank net interest margins. In it, I discussed how changes in the yield curve changed the net interest margin (NIM) for banks. This showed up historically — when bank balance sheets were shattered by the combination of holding…
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One of the topics that comes up whenever government bond curves re-price is the relationship between the yield curve and bank net interest margins…
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The 2-/10-year curve has reached “modern record” levels of inversion in the recent days. Although the usual interpretation of this event is that it is a…
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The ongoing collapse in cryptocurrency exchanges is attracting attention and schadenfreude. As an uninterested outside observer, all I can say is that…
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I was invited onto the MMT Podcast with Patricia Pino and Christian Reilly (thanks!): “What Is A Bond Vigilante And How Do We Get Rid Of Them?” A…
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A set of largely unconnected comments on recent events. None of them necessitate long form treatment. On the macro side, the weaker-than-expected CPI…
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Bank capital is the buffer on a bank’s balance sheet that allows it to absorb losses, particularly credit losses. Although there is a great deal of…
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I have been fascinated by the clown car crashing into a dumpster fire that Twitter has seen since the Elon Musk takeover. Although one of my character…
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