xxz114 Friday (May 3) stocks propelled higher after the Labor Department reported weaker-than-expected job growth last month and easing wage growth, buoying investors’ confidence up the Federal Reserve will eventually lower interest rates. The S&P 500 index ended at 5,128, as reading in Table 1. Table 1. Apr, May (3) 2024: M & T 3/28/2024…
welcomia We believe that the effects of Covid on the economy and financial markets are diminishing. And we believe that the Phillips curve (which represents the trade-off between inflation and unemployment) is supporting this. For now, we want to share a long-term chart of the Phillips curve. The horizontal yellow line at the bottom identifies…
The specter of a U.S. economic recession has loomed for more than a year, yet it has not materialized. Nonetheless, a recent change in the yield curve indicates that the possibility of a recession remains significant and could be growing stronger. ryasick By Andrew Prochnow The specter of a U.S. economic recession has loomed for…
Torsten Asmus/iStock via Getty Images Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark…
Boy Wirat As explained in Prof. Robert Jarrow’s book cited below, forward rates contain a risk premium above and beyond the market’s expectations for the 3-month forward rate. We document the size of that risk premium in this graph, which shows the zero-coupon yield curve implied by current Treasury prices compared with the annualized compounded…
Ibrutinib, the BTK inhibitor which Corvus CEO Richard Miller was able to sell to AbbVie in 2015 while CEO of Pharmacyclics. ollaweila We first heard the name Corvus Pharmaceuticals (NASDAQ:CRVS) in a text message from Derek’s dad, asking our opinion on them. A cursory review of their company materials led us to conclude they were,…
Darren415/iStock via Getty Images Treasury bonds may have rallied in recent weeks, but the fundamental and technical support for the move seems shaky – at best. Last month’s consumer inflation print did surprise consensus expectations on the downside, but at +3.2% YoY headline and +4% YoY core, it remains a long way off the Fed’s…
Melpomenem Stocks took a breather yesterday with the major market averages all closing lower, but a peak under the hood reveals a very positive development. The rotation out of this year’s winners, otherwise known as the Magnificent 7, and into the rest of the market’s constituents was very pronounced, as the heat map below reveals….
Torsten Asmus A Barbell Maturity Structure Can Capture High Front- and Back-End Yields Historical and current analyses do not guarantee future results. For illustrative purposes only. *Hypothetical portfolio based on Bloomberg Municipal Indices. Barbell is 40% weighted in one- and three-year indices and 60% in 15- and 20-year indices. Concentrated holds 100% in the 10-Year…
Andrii Dodonov CLOs Explained (Well, Sort Of…….) There is a lot of commentary here on Seeking Alpha about CLO funds and exchange-traded funds (“ETFs”). This is not surprising given some of the huge distribution yields paid out by closed-end funds (“CEFs”) like Eagle Point Credit Co LLC (NYSE:ECC) and Oxford Lane Capital Corporation (NASDAQ:OXLC), which…
TERADAT SANTIVIVUT A rising Yield Curve is what we are seeing today. The turn higher began after hitting what appears to be the low point,-1.89%, on May 4, 2023. At Friday’s close, Aug 18, 2023, it reached 1.29% or a 0.60% rise in ~3mos. This is as rapid a relief pace to pessimism as we…
The injection of $5 million from Binance Labs transcends a simple financial transaction; it represents a collaborative effort focused on strengthening Curve’s security infrastructure and aiding the protocol in recovering its stability. Binance Labs, the investment arm of the world’s largest crypto exchange Binance, has committed a substantial $5 million investment in Curve DAO Token…
Curve Finance fell victim to a reentrancy bug exploit in late July. The incident not only rattled the DeFi community but also exposed the platform to significant risks. Curve Finance, a prominent player in the Decentralized Finance (DeFi) landscape, has launched a groundbreaking bug bounty program. The move comes in response to an unsettling exploit…
baphotte The Bank of Japan (BoJ) is taking the macro world for a spin. It’s shaking up its yield curve control (YCC) policy, expanding its trading band for 10-year GDP yields from a range of 50 basis points to a much broader range of 100 basis points. This is a remarkable move that introduces higher…
Upbit noted that CRV has experienced increased volatility. South Korean exchange Upbit has halted trading of the Curve Finance (CRV) token after the project suffered a major exploit over the weekend. According to an Upbit announcement, the exchange temporarily halted CRV deposits and withdrawals to safeguard all transactions and protect users from potential losses. How…
As per the preliminary audits, the estimated losses are already north of $42 million with assets worth $100 million under risk. Curve Finance, the Ethereum-based second-largest decentralized exchange (DEX) after Uniswap, suffered a major exploit on Sunday, July 30. The exploit happened typically due to a vulnerability in its programing language Vyper. Due to the…