A Quick Update
Sometimes, there's too much work
So it’s been an eventful month — too eventful, in some senses. Between the bank blowups, the bank forced mergers, the crypto SEC filings, Do Kwon getting caught, a bunch of nickel futures turning out to be just pet rocks on delivery, and more, I’ve had a little too much on my plate to finish writing what I currently have on the docket. What started out as a banking crisis post turned into a massive rant that probably shouldn’t be delivered to people’s inboxes. Between phone calls explaining what an interest rate is, what a bank account implies, figuring out whatever the hell is going on with the 2-year, and more, I’ve been a bit busy and haven’t been able to fully process what’s going on to finish writing about it clearly. Frankly, there are still a lot of moving parts — I don’t think this resolves for months, really, even though this was the quickest bailout (yes, it was a bailout) in history — but I have a much clearer idea of what I think will happen going forward and I should resume posting shortly.
In the meantime, here are some links I think might be enjoyable to read:
The Best of Malt Liquidity Archive (for the new subs)
FT on the CFTC Binance Complaint
A summary of the Salad Oil Scandal (1964)
I should have everything ready to go by next week, hopefully Monday. Thanks for your patience! Of course, I’m always on Twitter:
