It’s not perfect, we know. But the weekly CFTC derivative positioning report is still a useful barometer when it comes to gauging investor sentiment.
On which note here’s the breakdown of the latest report with respect to UST spec positioning, courtesy of TD Securities: Read more
In April we began discussing the possible end of the Transaction Account Guarantee at the end of this year, describing it as a kind of collateral-substitute and as a pseudo-bailout for certain investors (the most extremely risk-averse) in money market funds.
Well, the expiration of TAG increasingly appears inevitable, and today the Wall Street Journal reports: Read more