Captain Drew

[Captain Drew @AnchuDrew]

@DsrPrivate but RMP is buying short dated, here Treasury is buying back long dated. I haven’t done the math but this buyback could be bigger dv01 removed from market?

[Captain Drew @AnchuDrew]

@DsrPrivate so the program was originally meant for “liquidity support “ ie buyback off the run + issue same amount&duration of new debt

And now they’re only increasing the former = miniQE?

[Captain Drew @AnchuDrew]

@DsrPrivate short dated floater I agree it’s cash equivalent

If it’s longer dated and has a spread on top, and the exchange is done truly at market, then that’s kind of still having a claim on future tax

Probably I’m overthinking, and the duration impact change is the big deal

[Captain Drew @AnchuDrew]

@DsrPrivate But I thought you were saying sell back the whole SOMA portfolio and replace with floater, not forgiving the whole thing?

[Captain Drew @AnchuDrew]

@DsrPrivate is the ZB 1x2 puts still a good trade?

I think it is, just want to double check in case I missed anything

[Captain Drew @AnchuDrew]

@DsrPrivate Just for clarification:
Assume this is a troll and you were not actually expecting any FIMA?

[Captain Drew @AnchuDrew]

@dampedspring you might like this:

https://t.co/JDWO1Ie53R

[Captain Drew @AnchuDrew]

@DsrPrivate basic question how do i understand this graph..

1yr EPS growth is 45%

how does the 2yr only 20% annualized? (doesn't that imply the year after has 0% growth?)

[Captain Drew @AnchuDrew]

@BobEUnlimited May I ask why use RPAR?

RPAR has no commod&TIPS, thus more susceptible to inflation, although their EQ seems to lean commod producers

ALLW seems more balanced and simple (and it’s BW!)

[Captain Drew @AnchuDrew]

@DsrPrivate for smartBeta do you still expect to go 100% deployed by mid July, absense of any major market moves?

[Captain Drew @AnchuDrew]

@DsrPrivate Ah ok, gold I was looking vs last Friday

Anyway agree mostly chop

[Captain Drew @AnchuDrew]

@DsrPrivate How to understand today’s market move..
Stock bond oil down
But gold DXY up

Seems a bit weird. Just noise?

[Captain Drew @AnchuDrew]

@DsrPrivate what's the rationale of the ZB trade?

[Captain Drew @AnchuDrew]

@DsrPrivate Congratulations Andy!

[Captain Drew @AnchuDrew]

@DsrPrivate IFFFF there's a 300bn reconstruction fund, where does the money come from?

[Captain Drew @AnchuDrew]

@DsrPrivate trying to understand how you see beta is sideway for 6mth, and it being more attractive than cash now

ALLW is +7% YTD, and i believe smartbeta is around +5%. Isn't that around "normal" pace RP collection?

[Captain Drew @AnchuDrew]

@DsrPrivate The stall (smoke brisket) you mentioned, is that because rebalance flow is selling, while usually BTD folks will offset that, net net not much will happen absence of new news?

[Captain Drew @AnchuDrew]

@DsrPrivate ELM etf is more equities heavy, no commod/gold, is it less balanced than DSBeta / ALLW?

[Captain Drew @AnchuDrew]

@DsrPrivate how is this f'king Anthropic and SpaceX?

is it 1. taking 80bn from equity capital market and 2. Goog capex will be upsized, forcing competitors to upsize+death match?

[Captain Drew @AnchuDrew]

@DsrPrivate This is very clear, thank you for rewriting

Echo that inflation is personal! I have assets and job that can catch up with inflation, but still when I see a higher price tag, I’m pissed and don’t wanna pay for it (at least initially) despite logically I can afford