whatok

26 ms·

241.
by whatok 7y ago
The ECB printing money is a factor in stabilizing rates but it in itself does not create conditions where governments are able to borrow for 30 years at negative rates. For example, if the deposit rate was at 3.00% instead of -0.40%, gover
242.
by whatok 7y ago
You can argue safety (bonds you have sovereign default risk vs cash will have bank credit risk) but your math is not incorporating how a transaction in this case would actually take place. It's not as simple as just holding onto $100.
243.
by whatok 7y ago
Good post that covers nearly everything. The only thing I would add to this is that the ECB's deposit rate of -0.40% is the only thing that has enabled all of this.
244.
by whatok 7y ago
Like most economic and finance topics on this site, there seems to be a lot of people posting opinions/"facts" without really understanding the subject matter. The reason why bonds are trading at negative rates in the EU are
245.
by whatok 7y ago
A majority of institutional investors have investment mandates which limit them in the amount of cash they can hold. Additionally, if you think there's no chance of EU inflation going forward, even if these are negative yielding secur
246.
by whatok 7y ago
I'm looking at the bond on Bloomberg right now and it's showing a yield of -0.14% with a price of EUR104.54. All things equal, if you buy this bond right now and hold it to maturity, that will be your yield. This is an after-tax
247.
by whatok 7y ago
Because those positive yields are only available if you don't hedge your FX risk. Most institutional investors have a mandate to hedge FX risk and this will take UST returns for EUR investors negative.
248.
by whatok 7y ago
I'm overall a fan of what Rogan does but I think you picked a poor example for #1. He destroyed Mencia but every time the well-documented joke theft of Amy Schumer has been brought up, he has refused to directly call it out.
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by whatok 7y ago
Beijing would have FB testify if it were possible to compel them and if it suited their purposes.
250.
Information operations directed at Hong Kong(blog.twitter.com)
1116 points by whatok 7y ago|441 comments
251.
by whatok 7y ago
Neither acts as a VC fund that is forced to overpay for things since it has too much capital to deploy.
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by whatok 7y ago
It's neither. They account for half of the retail JPY corparate market. Much different and smaller market than overall (institutional) corporate market. Half of JPY corporate markets is an astronomical number that doesn't pass
253.
by whatok 7y ago
I'm not agreeing with the previous poster but GE is anything but small potatoes nowadays. They have over 100bn in debt and there's a very real case where they get downgraded to high yield which is a near death sentence for an indu
254.
by whatok 7y ago
Manufacturing PMI probably loses its leading indicator status once automation becomes more sophisticated. Many of the sub components of manufacturing PMI (new orders, inventories, etc) completely vanish in importance at that point. Consider
255.
by whatok 7y ago
There is no "newfound obsession" with it. If you think about what it means, you cannot have a healthy economy with a prolonged inverted yield curve.
256.
by whatok 7y ago
https://en.wikipedia.org/wiki/Member_states_of_NATO
257.
by whatok 7y ago
Because funding costs for hedging cross currency trades have gone up ever since the Fed has started raising rates and largely reduced returns or in some cases even caused negative returns. Funding costs have exceeded rate hikes 1:1 and thi
258.
by whatok 7y ago
Like I posted below, 40% of SOFTBK's debt is in USD and they have been doing most of their larger issuance in USD recently. Bloomberg is showing that they have a weighted average coupon of 4.4% so they're not exactly paying 0%. A
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by whatok 7y ago
40% of SOFTBK's debt is in USD and most of their larger recent issuance has been in USD.
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by whatok 8y ago
Define "optimal price" and how is that price discovered pre-IPO?
261.
by whatok 8y ago
I can totally see how this wasn't anything malicious and just done out of pure ignorance of the law. That said, I would expect this out of a small startup; not a massive corporation. This is actually where I can see the argument for in
262.
by whatok 8y ago
The sticking point is that those advertisements are made to the public and everyone has relatively the same equal access to them. Targeted advertisements through social media completely remove any semblance of equal access.
263.
by whatok 8y ago
It's really sad to see music that I grew up on and had many life experiences around get simply reduced to "music for ____".
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by whatok 8y ago
Agreed on the ambient classification but I always think of him as much more than that as far as influence goes. He's basically had an influence on a huge portion of electronic and non-electronic music over the past few decades.
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by whatok 8y ago
Agreed, by playable I was meaning by two hands.
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by whatok 8y ago
That's pretty good but I don't think the higher octave stuff near the end is spot on. This is not playable: https://www.youtube.com/watch?v=3uhTwxqE4Co
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by whatok 8y ago
Yes, if you're listening to it just as background music, early Warp catalog would work.
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by whatok 8y ago
Pretty sure most of those tracks are not actually playable by a single person and that they're all programmed.
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by whatok 8y ago
I haven't read through the article but people have been doing generative tracks in Reaktor for years
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by whatok 8y ago
These shenanigans provide a real economic benefit to companies at the risk of long-term damage to an established market. High yield and distressed CDS is more or less a joke right now because of this stuff and the only thing restricting th

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