Spicy! TYB!
o7
Spicy! TYB!
o7
NewsBusters
@newsbusters
Taxpayer funded PBS is now trying to push prison abolition? Yes, that's where your tax dollars are goingโฆ
https://newsbusters.org/blogs/nb/clay-waters/2023/12/11/tax-funded-pbs-newshours-brief-spectacular-push-prison-abolition
https://twitter.com/newsbusters/status/1734369726434840859
Fakir & ghey.
RRN humor site for hard lefties, for suckin' in the naif conservative or two, or drei.
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Stoled it.
How dem new shoes fit?
Glow Bull
Coincidence!
Better, but before I get accused of shooting the messenger again,lets get simpler.
A "Basis Trade" is as follows::
Buy a Treasury Note or Bond (Bills don't have the juice except in the big, big Billions, because time (less than a year)). Sell the corresponding Treasury future against said Note or Bond, one to one. That is to say, for the exact same face value. That's the simple way to describe it. So, where does one make any money?
When buying the original Treasury, you're usually buyin on Margin, and Treasuries are marginable up to nearly 99% of face value. So, not much cash down up front. The key to make this work best, is to own what's known as "Cheapest To Deliver" in the Treasury, or the closest in Duration to the corresponding future. This gives the biggest boost to the accrued interest coming, on borrowed money, while the price the Treasury was purchased at is fully hedged in what is an essentially a matched sale through the short futures position. So, ALL the risk is in the finance rate for the accrued interest to come. The longer it stays steady, the higher the probability of the trade working over time. Borrow a LOT and you're going to Really get paid.
Unless the Fed tightens again. Then you get fucked. Hard.
Ordinarily, the futures exchanges restrict the raw number of contracts any one account can hold at one time, so as to prevent cornering a market. The CME doesn't do that anymore for Citadel, because Ken's their biggesst customer, by far, via the HFT trade.
The overnight borrowing rate for owning those Treasuries is called the Repo rate. Set by the market, but based on the Fed's SOFR Rate. Financing this has NOTHING to do with ReverseRepo. That just restricts the number of "Cheapest To Deliver" Treasuries available for purchase in the Open Market.
This Traderfag's been doing this since the mid-80s, options off of it, in particular. So when I get get to shooting messengers, it's because something stupid's been cut n pasta'd.
Onward, and Ken Griffin's gonna get screwed on this, I do believe.
https://www.cmegroup.com/education/courses/introduction-to-treasuries/the-basics-of-treasuries-basis.html
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Yes, ZH can be very, very stoopid, yet you cut n pasta from it ebbery single time. You in the commentariat there? You all sensitive like it.
Glow Bull
Spam fail begets CP, always.
pdp
I sed it was better. Yer last efforts were ZH copy pasta, not dis. Let me know when you start to shave. I'll help moar.
Black Holes is Spoopy Physics. Much math.
Good question. Quantum state of Mass? Pushing through a singularity into another dimension? Tough to test.
Cowardly City College, which refuses to denounce antisemitism, should take my dadโs name off its Moynihan Center
By Maura Moynihan
Published Dec. 11, 2023, 6:56 p.m. ET
https://nypost.com/2023/12/11/opinion/cowardly-city-college-should-take-my-dads-name-off-its-moynihan-center/
No change. Keep standing them up for the knock down, runner.
Glow Bull
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95% convinced that's a frustrated spammer using ALL his files.