Patrick

[Patrick @PaperkatBrah]

@marcusconvexity MTB

[Patrick @PaperkatBrah]

@PhilTimyan Lmao what a way to skirt CAT IV standards and CCAR process

[Patrick @PaperkatBrah]

@dampedspring As others have said, offshore TSY holdings goes down as Eurodollars goes into stablecoins. That’s were the payment inefficiencies are anyways.

[Patrick @PaperkatBrah]

@NicoGladia Suitability risks and chance for private wealth clients to sue if private markets underperforms (despite being qualified investors). Any of conflicts of interest will be interesting as well.

[Patrick @PaperkatBrah]

@josephwang @fejau_inc Basis trade unwind comes from margin calls on the futures sold vs securities to be delivered— this takes a rally cash bonds(lower yield).

[Patrick @PaperkatBrah]

@dampedspring @josephwang Remove IOER ;)

[Patrick @PaperkatBrah]

@ThinkingUSD Basis traders get margin called when rates go down not up.

[Patrick @PaperkatBrah]

@blondesnmoney Not going to find them living in Manhattan 🤣

[Patrick @PaperkatBrah]

@markoinny tariffs w/ other U.S. trading partners is a growth opportunity for China. Chinese stocks already discount direct U.S tariffs

[Patrick @PaperkatBrah]

@no__bs__ Might be cheating but BK

[Patrick @PaperkatBrah]

@no__bs__ Too bad I’m on the sell-side. Looking forward to seeing the higher NIM guidance based on a normal sloping yield curve.

[Patrick @PaperkatBrah]

@BankMonk @BankRegData There was an accounting change beginning 1Q23 — TDRs now capture all modified substandard and below loans rather than nonaccural/NPAs.

[Patrick @PaperkatBrah]

@Citrini7 Actually surprised it didn’t move more tbh, 158.5 looks like a great entry point rn

[Patrick @PaperkatBrah]

@tomfgoodwin The UV at that altitude is off the charts.

[Patrick @PaperkatBrah]

@dampedspring Many banks are trying to right size their long duration securities book right now. They already have the bonds, they just need to put on the swap — many are doing that.

[Patrick @PaperkatBrah]

@dampedspring banks and regulators don’t view cash and synthetic trades the same. If banks were to deploy liquidity, the trade off is with loans which are much higher yielding and can be floating.

The only real players that can arb this in size is the GSEs. They do run match maturity arbs

[Patrick @PaperkatBrah]

@JamesFrederickH @SteveMiran Economic prosperity moves the general population away from extremist views. Hamas weaponized the suffering of the Palestinians for their own motives. If you can convince the population life is better outside of Hamas rule, they lose their funnel of recruits.

[Patrick @PaperkatBrah]

@JamesFrederickH @SteveMiran ISIS is smaller now but not gone.
My point is killing civilians will just bring the next generation of terrorists. How much effort did we go through to get rid of Taliban just for them to come back 20 years later?