🚨 Remember when the US Treasury caused that major yen rally in ‘98? Us neither www.ft.com/content/5506...
Remember when the US Treasury caused that major yen rally in ‘98?
Us neither
ft.com
Toby Nangle
@tobyn.bsky.social
FT Alphaville reporter. Ex-“veteran” fund manager. Resolution Foundation Assoc. Baring Foundation Trustee.
Good case by @darama1.bsky.social for the Bank to declare victory www.ft.com/content/8bbc...
Bank of England: QT bye?
The case for active quantitative tightening is getting weaker
ft.com
🚨 We dont know how much JPY the US Treasury bought but we will soon. www.ft.com/content/e279...
How big was the American JPY intervention?
We can but guess, for now
ft.com
🚨 Prospective Iranian tolls turn out to be totally legit? www.ft.com/content/06f8...
Iranian tanker tolls: totally legit after all?
Nice Suezmax you’ve got there. Shame if something happened to it
ft.com
Been (very lightly) dipping into this on the rec of @leeharris.ft.com, (who I think maybe got the rec from @robarmstrong.bsky.social ). A 1982 take on insurance? Really? It’s actually good and very funny. Like if Alphaville wrote a monograph on the industry 44yrs ago.
🚨Come for the interactive chart showing how BofE estimates for the QT 10yr gilt yield premium has evolved. Stay for the ... interactive chart showing how BofE estimates for the QT 10yr gilt yield premium has evolved. www.ft.com/content/0d40...
What Warsh might be up to - he wants volatility: really interesting note from @robarmstrong.bsky.social this morning as.ft.com/r/62202ff0-d...
🚨Can we make sense of Warsh? We can damn well try. www.ft.com/content/17bc...
Trying to make sense of Warsh
Abdicating responsibility or fortifying the markets with anti-fragility serum?
ft.com
Been busy with other stuff this evening. Boy the long end hated whatever was said at the presser.
🚨There's no such thing as a typical CCC-rated corporate bond. The distribution of spreads is frankly absurd. www.ft.com/content/6c79...
This, from today's @alphaville.ft.com further reading, is delightful taxa.substack.com/p/how-to-sur...
How to survive boiling water
A probiotic paradox
taxa.substack.com
What was serving US judge Susan Brnovich, widow of the late Arizona attorney-general and Trump crony Mark Brnovich, doing on the balcony of convicted fraudster and Farage aide and benefactor, George Cottrell, in Tivat (Тиват), Montenegro??
Long overdue for The Spectator's Islamophobia to come under the microscope. Excellent piece from Peter Oborne here doing just that. It is now, he writes, just "an upmarket version of GB News" (same owner, of course)
Exposed: The Rabidly Islamophobic Magazine at the Heart of the British Establishment
For almost 200 years, 'The Spectator' stood for civilised, bravely heretical discourse. But a new report reveals how it now spews out anti-Muslim hatred week after week to its upmarket audience
open.substack.com
Not sure if it’s a people thing, an LLM thing, or a people being influenced by LLM thing, but OMG can folks please cut out “the distinction matters” from their writing?
Having spent a very happy 18 months sinking into its 3,000 pages, I have written about why reading Proust is essential in the 21st century as.ft.com/r/32995bbf-8...
Proust in the age of TikTok
The French writer’s seven-volume magnum opus was a challenging choice for a book club — but its evocation of the human psyche makes essential reading for our times
as.ft.com
A machine for making us lonelier and stupider seems a little harsh, but then again www.ft.com/content/bdb3...
A betting account in the name of George Cottrell, the convicted fraudster who bankrolled Nigel Farage, received almost $9mn in cryptocurrency from unidentified sources while he was providing gifts to the Reform UK leader great work from @annasophiegross.bsky.social www.ft.com/content/b74c...
Betting account in George Cottrell’s name received $9mn in crypto from unidentified sources
Deposits in Polymarket wallet came as convicted fraudster was providing gifts to Farage
ft.com
Seems that YouTube has sought for to pump American Kalshi influencers into my 13yo’s feed.
3 months on, still no broader analysis piece of this very big, broadly counterintuitive change on one of the most salient public issues. As a result, the public are overwhelmingly unaware + have never heard about this significant shift in flows failling bsky.app/profile/sund...
Sunder Katwala (sundersays)@sundersays.bsky.social · 3mo agoBeyond quality control on basic facts, I sense there is now more understanding in newsrooms across BBC that boat crossings have been falling this year by about 35% [since Oct25] than there was in mid-April Now reported in passing not yet much "why are crossings now falling + will it last?" analysis
30% of SpaceX shares (so far floated) have been borrowed to short sell? Wow! Guess the stock of tradable shares doubles (?) next month, and flow of stock looking for a home set to ramp up over next 12mths. www.ft.com/content/2b96...
