Tidy Joe

bad day to be a sloppy joe. alternative investments and market analysis by day, sports and video games by night. don’t take yourself too seriously.

[Ben Carlson @awealthofcs]

Wemby is like AI's impact on the labor market

It feels inevitable but it's not happening quite yet

[Tidy Joe @TidyMFJoe]

@LoriaKohl Good shit man

[Tidy Joe @TidyMFJoe]

@CardPurchaser

[Tidy Joe @TidyMFJoe]

Hey @ryancohen
Fix eBay the authenticity process for collectors - https://t.co/GlofyfZHZm

[Tidy Joe @TidyMFJoe]

@BookitWithTrent

[Tidy Joe @TidyMFJoe]

@EephusCollects @CardPurchaser I was a huge fan of it, stoked

[Tidy Joe @TidyMFJoe]

@CardPurchaser decent jumbo haul?

[Tidy Joe @TidyMFJoe]

@jgolf1 @CardPurchaser I’ll take it!

[Cam Collier Truther @CCollierBurner]

Prepared for Miles Mikolas vs Brady Singer tonight

[Tidy Joe @TidyMFJoe]

@CardboardM22 @CardPurchaser Mega Futures a rare insert? I got a Mcgonigle and was just holding it

[Playa Haters @PlayerStormy]

The Canadian flag is flying at half mast today after losing the Olympic Gold Medal to the United States in hockey today

[Everything Yankees @eyyankees]

Giancarlo runs

[Tidy Joe @TidyMFJoe]

@AllBannerSports No clue but got his doors blown off

[Tidy Joe @TidyMFJoe]

@SamMonsonNFL Retard

[doomer @uncledoomer]

if you told me that the italian economy is held up by "cheese backed securities" without proof i would assume you were being comically racist

[sysls @systematicls]

https://t.co/FQe5bCBqW1

[JANDY @Jandystl]

Who’s coming over to sip The Machine tonight?

[Tidy Joe @TidyMFJoe]

@WNYCards Making me feel better about my 31 year old rookie!

[jay 🍀 @MALACHIFlELDS]

We used to watch gods play football

[Cassandra Unchained @michaeljburry]

So the Fed is now buying Treasuries again. $40 billion of bills a month...@FTAlphaville covers it well. And with a sense of humor - Sure John LOL. And we have a "new" acronym to learn RMPs - Reserve Management Purchases. The last line of the article is notable.

“However, given the stubbornness of the recent repo market volatility, Alphaville would be surprised if the Fed doesn’t unveil a dose of “temporary open market operations” before then — just to make sure Christmas isn’t ruined by an end of year funding crunch shitshow.”

I would add that if the US Banking system can’t function without $3+ trillion in reserves/life support from the Fed, that is not a sign of strength but a sign of fragility.

It was $2.2 trillion pre-2023 banking crisis. The temporary BTFP support became load-bearing. In 2007 it was $45 Billion with a B. That reserve level might grow with the economy, but the economy sure isn’t doing that well.

So I’d say US Banks are getting weaker way too fast.

Seems that after every crisis now the Fed needs to expand its balance sheet permanently or guarantee a bank funding crisis. No wonder stocks are doing well.

On CNBC you’ll hear recommendations to buy bank stocks because they are so overcapitalized and the economy is improving, but I don’t. In general, for amounts over the $250K FDIC limit, I keep cash in Treasury Money Market Funds.

The practical limit of this might be full nationalization of the US bond market - the Fed owns all $40 trillion US debt. So party on, I guess.

Bonus if you caught this too - the US Treasury has been tilting its sales toward short-term Bills to avoid driving 10 year rates up. So the Fed's focus on buying Bills is awfully convenient.

The Fed and the US Treasury sittin' in a tree
K I S S...

RIP QT; long live ‘reserve management purchases’ https://t.co/QHAGHH2B4t via @FinancialTimes