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...This will affect strategies such as the controversial basis trade, where hedge funds bet on the price differential between Treasury futures and cash Treasuries narrowing using borrowed money....
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...The top US securities regulator has played down the impact on hedge funds of a new rule tightening oversight of the Treasury bond market, telling the Financial Times that they are not the main target....
...Well, money-market funds are really big buyers of Treasury bills. And because there’s been so much demand for money-market funds, there’s also been lots of demand for bills....
...“The liquidity fees that are part of the final money market fund rules will help manage risk in times of stress to protect investors.”...
...A record amount of money has flooded into US corporate bond markets this year, as investors rush to lock in the highest yields in years ahead of an anticipated series of interest rate cuts by the Federal...
...Wheeling and dealing in the $26tn US Treasuries market seems dull. But it is crucial to the pipework of the financial system....
...This is an audio transcript of the Behind the Money podcast episode: ‘A radical change for the US Treasury market’ Michela Tindera Think about the last time you were at the beach on a warm summer day....
...Some analysts say the abundance of cash parked in money market funds, which invest in ultra-short term government debt, acts as a potential source of continued demand for Treasuries....
...Right now, it’s worth taking a step back and acknowledging that the end of America’s role as a central vector for global money laundering is, at long last, in sight....
...Proponents, opponents, the IMF, and the US Treasury should be invited to testify, as should finance ministers of developing countries, who do not appear to have been consulted on any of the draft bills....
...Three hedge fund industry groups are suing the US Securities and Exchange Commission over new rules for the $27tn Treasury market, arguing the measures will unfairly subject their members to regulation as...
...Charles said the firm’s recent fundraising was a sign of strong appetite among institutional investors, including insurers, pensions funds and family offices, to put money into the sector....
...[MUSIC PLAYING] Money managers are planning to shut down or convert more than $200bn worth of US money market funds....
...John Paulson, the Republican megadonor considered to be a potential Treasury secretary if Donald Trump wins the presidential election, has warned that the US must not “decouple” from China, striking a more...
...The $674bn US institutional prime money market funds sector is set to shrink by at least one-third this year, as large investment firms shut down these vehicles rather than pay for upgrades needed to meet...
...puts the size of the US model portfolio market at $5.1tn....
...Just three providers control about 75 per cent of the assets in US exchange traded funds these days: BlackRock, Vanguard, and State Street Global Advisors....
...US, Morningstar says....
...It was a sign of the times at the end of last year when the amount of assets invested in US passive funds reached $13.3tn, according to Morningstar, just pipping the $13.2tn invested in active funds....
...of money-laundering and counterterror laws....
...¯\_(ツ)_/¯ Anyway, money-market funds should be a large source of demand as well this year, says GS, albeit a somewhat smaller one than in 2023....
...The Extraordinary Receipts Act The Extraordinary Receipts Act requires that any money received by a US agency be turned over to the Treasury....
...Monday’s Treasury market moves were likely to have been caused by “a combination of the stronger PCE spending print on Friday and strong ISM”, said Gennadiy Goldberg, head of US rates strategy at TD Securities...
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