First of all, who the hell is the latest counterpart added to the #FED Standing Repo Facility: “Norinchukin Bank”? “Officially,” it is a Cooperative Bank owned by Japanese agricultural, fishery, forestry cooperatives in #Japan. Yes, that’s right, an “agricultural” bank from Japan got a seat at the #FED big boys...| JustDario
During 2023, we have discussed so often how (ridiculously insolvent) banks have made extensive use of “Hold To Maturity” accounting to the point that it is now more appropriate to rename it “Hide Till Maturity” (TwitterX). Dump any asset with a market value implying a steep loss in the HTM...| JustDario
NOT EVERY “ALL TIME HIGH” IS THE SAME – YES, THIS TIME IS DIFFERENT| JustDario
While digging into #BAC‘s Q4-23 financial statements, I couldn’t help but wonder if they had lost their minds during the last three months of 2023. No, I am not referring to the “press release” or the “presentation,” which are usually prepared to “feed” the media rather than provide transparency to...| JustDario