Fed fund futures prices are risk neutral expectations, not physical or subjective expectations. The risk premium in those futures may be pretty large now, so it may matter. But, people keep quoting them as if they’re point forecasts of future rates.
Tried to convince people of this literally thirty years ago. Failed.
https://t.co/bNFjnFtQQ2
https://t.co/dthaC5ePWG
This "relatively accurate" prediction about future telephones was made by Mark R. Sullivan, president and director of the Pacific Telephone and Telegraph Co. in 1953
[read more: https://t.co/n1n1NyHxTO]
Michael Bloomberg started his company in 1981. He was already 39 years old. He faced large incumbents with tens of thousands of installed terminals and by global news agencies.
Let's take a look at how he cracked the code to become the dominant player in financial information
NY Fed President John Williams: "One of the lessons of this crisis and the last crisis is that there's enormous global demand for U.S. Treasuries," so he's "not so worried" about higher interest rates amid higher deficits and debt.
As tweeted yesterday, even some high yield ("junk") #bonds now trade at negative yields--ie, creditors PAY for the privilege of financing companies with notable default risk.
These bonds are part of a stock of negative-yielding securities worldwide that now exceeds $13 trillion.
In 1997, Hong Kong’s economy was one-fifth the size of China’s. By 2018, it was barely one-thirtieth the size of China’s. The mainland doesn't need Hong Kong the way it once did. https://t.co/Y7KTOg3wMm
When it comes to big data, sometimes tools from the 80s (awk! gnu parallel!) are your best friends. So many great lessons on saving time, money and stress in this post by @NicholasStrayer https://t.co/CEMdpWRJCk
Many thanks to Chicago Booth Alumni Club HK for organising tonight’s insightful talk on Fed’s policy by Charles Evans and Eric Rosengren. #ChicagoBooth
Huawei has announced it has 25 5G contracts with more than 1 million base stations shipped and expects revenue to top $100b. Seems they are almost issuing a challenge
Doh! I've been working at @RStudio for 6 months, yet I just learned that I could drag the source pane in the RStudio IDE off the IDE canvas and have it become its own window.