Hints and tips:
...However, Rogoff et al argue that while the patterns in short-term rates are noisy, if you look at long-term real rates (that is, nominal rates adjusted for inflation) there is a clear and striking trend....
...In this case, the long portfolio buys $5 of the stock and the short side sells $3 of it....
...Roman Kramarchuk, head of future energy analytics at S&P Global Commodity Insights, said policy changes linked to COP28 were “inherently a long-term story”....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...Ethan WuAll right, Katie, we’ll be back in a moment with Long/Short. Welcome back. This is Long/Short, that part of the show where we go long a thing we love, short a thing we hate....
...But as Goldman’s Praveen Korapaty et al point out, the US government bond market has been pretty choppy for a while now....
...Moreover, more attractive analysts make stock recommendations that are more informative in the short run and more profitable in the long run....
...But it takes short-sighted self-interest to a whole new level for Poland et al to threaten to smash apart the mechanisms of the single market and the EU’s common trade policy because of the short-term impact...
...For most banks, higher short-term interest rates means higher profit....
...And corporations of all types use longer-term currency swaps to hedge their own foreign currency bond liabilities (McBrady et al (2010), Munro and Wooldridge (2010)). The BIS’s suggestion?...
...So anyone who bet on long-term Treasuries got killed in 2021. And now, anyone who bets on short-term Treasuries is going to get killed in 2023....
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...And certainly, as long as we're focusing on illegal immigration, I think they're OK on that one in terms of keeping their vote together....
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...But even in the face of this poignant example, the Chan et al/Verdad view is very hard for a person like me to accept....
...Prosecute fraud, maybe regulate crypto exchanges like casinos, and keep the SEC et al out of it. This is a disagreement about how to cordon off crypto so that when crypto burns, it is controlled....
...In short, care was improving even then. But there’s something else he said that day that probably does more to explain the endurance of Benzema et al today....
...Intuitively, bonds with long tenors can be sliced/diced for very short term in repo/sec lending/prime brokerage/derivative markets....
...Consequently they “would have lower long-term returns. If you don’t care about these [ESG] tastes, you can buy stocks that have higher long-term returns.”...
...It comes iced, nitro (cold brew made with nitrogen gas for an ultra-smooth texture) or hot, with all of the usual suspects represented: macchiato, cappuccino, cortadito et al....
...counterpart has increased (see Boissay et al (2021))....
...They can plan and operate for the long-term and often ride out unfavourable political winds....
...Weak bank boards, poor risk processes and insufficiently robust risk committees allowed the balance sheets of Northern Rock, HBOS et al to expand unsustainably....
...Here is that yield, charted against the relative performance of the banks versus the broad index: Banks are actually much more sensitive to short-term rates than long-term ones, so this correlation doesn...
...And I think there's also probably, there was a lot of long term planning, but also a lot of short term opportunism that likely went into that....
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