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NelderMead

@neldermead.bsky.social

Invented in the 60s; when algorithms solved problems rather than create them. Artisanal, hand-crafted, AI-free bond research by day. Feeble puns and nonsense by night. Your average occasional Bluesky poster

534 Posts1200 Follower898 Folgt
David Woodruff@dmwoodruff.bsky.social · 2w ago

This turns out to be incorrect. When the APF sells a gilt, BoE gets two tranches of £s: [1] receipts from the gilt sale; [2] the difference between and the amount APF spent on the gilt, this being the indemnity, paid by HMT. [1]+[2] is always the same, so lower gilt price no advantage to Treasury..

William Ellis@willellisecon.bsky.social · 2w ago

6/ The challenging part here is that Treasury becomes the buyer, so the price is agreed between two public bodies rather than set by the market. Naturally, the Treasury will have an incentive to pay less than market price

NelderMead@neldermead.bsky.social · 3w ago

Never let a good crisis go to waste. Tomorrow the BoE has the perfect out. It can stop active sales of Gilts, because heightened market stress increases its impact, which is undesirable for a policy that should operate in the background (by the Bank’s own reckoning)

NelderMead@neldermead.bsky.social · 5mo ago

The notion that QE was powerful but QT could operate in the background was always wishful thinking. But it was premised on the notion that QE had impact because it operated in stressed conditions. Well, they’re stressed now, so even within the BoE’s own framing, QT should stop/pause

NelderMead@neldermead.bsky.social · 3w ago

Never let a good crisis go to waste. Tomorrow the BoE has the perfect out. It can stop active sales of Gilts, because heightened market stress increases its impact, which is undesirable for a policy that should operate in the background (by the Bank’s own reckoning)

NelderMead@neldermead.bsky.social · 5mo ago

The notion that QE was powerful but QT could operate in the background was always wishful thinking. But it was premised on the notion that QE had impact because it operated in stressed conditions. Well, they’re stressed now, so even within the BoE’s own framing, QT should stop/pause

John Oxley@joxley.jmoxley.co.uk · 4w ago

So in one week: 1) Reform get stung for dodgy finances, and the regulators play pass the parcel about enforcement 2) Farage announces plans to largely dismantle independent scrutiny of govt, and barely any press discussion of it 3) Masked thugs blockade a port, with narry a word from senior govt

Rick@flipchartrick.bsky.social · 4w ago

Farage has been telling us for years about his successful City career and how he took a huge financial hit from giving it up. Now he’s telling us he doesn’t understand all this money stuff.

Adam Schwarz@adamjschwarz.bsky.social · last mo.

Farage confirming how blase he is about accepting cash: "I'm not an expert about how family trusts work... I have no idea how this works.... I ask a question of the people around the table, "Is this legit?"... I'm told they're going to give us money... I basically didn't give it a second thought."

Farrukh@implausibleblog.bsky.social · last mo.

BBC News report Iceland's EU referendum result, presenting it as an in-out like Brexit They neglect to mention that Iceland is already in the EU Single Market and has free movement of people with Schengen

Sir Michael Take CBE@sirmichaeltake.bsky.social · last mo.

With serious flood alerts all across the UK today Richard Tice says we should embrace the flooding. ‘Let’s enjoy all this lovely wet weather & excess water’ he has commented, ‘it helps us to improve our swimming skills & has given a real boost to our sandbag and bikini industry.’

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Farrukh@implausibleblog.bsky.social · 2mo ago

Left: Nigel Farage says the police should act because Zack Polanski refuses to apologise Right: That time Keir Starmer asked Nigel Farage to apologise for when Reform UK's Deputy Council Leader in Lancashire shared a death threat against Natalie Fleet MP, he refused to do so