Brent aka Blacklion

Brent aka Blacklion

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Christian, Global Macro, Family Office Derivatives, Recovering USN Aviator (A4, F14), USAF PEP F16, 2A, #OOTT #natgas, Pure Blood, Forbes 50k over 50. no advice

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Brent aka Blacklion

Nick has an excellent breakdown of the minutes. His note about 'some' is correct. I think the composition of 'some' matters a great deal it is almost entirely regional presidents. twitter.com/BlacklionCTA/statu...

Brent aka Blacklion

Treasury moved away from a hard target for TGA to more of a range to accommodate tax day.

Brent aka Blacklion

Don't get too excited about this CPI print. A lot of holes in the data.

Brent aka Blacklion

Here's what we need to know: "This can have meaningful consequences for the fiscal authority's ability to access the capital markets at the best prices for taxpayers, particularly if market volatility mounts." It is all about being able to float more sovereign debt.

My statement on the final rule on leverage ratio capital relief. I think we should give further attention to removal of Treasury securities and reserves from leverage ratio calcluations, since we force banks to hold these through liquidity requirements. https://federalreserve.gov/newsevents/pressreleases/miran-statement-20251125.htm…

Brent aka Blacklion

If you aren't into Fed history you may not be aware that in the mid 20th century there was a nasty split and rivalry between governors and regional bankers. That may be re-emerging following yesterday's remarks.

Brent aka Blacklion

Dallas Fed print is worst since COVID. Hard to reconcile with the activity here but have to believe the tariff uncertainty and reduced flow of cheap illegal labor weighing on responses.

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