No bueno

Summary:
Fed rate increases crushing NPV of system regulatory capital:They are doing the same thing they did in September 2008 ie putting their own Depositories and Dealers into violation of their own regulatory capital requirements…  system is again getting close to failure mode:Bank of America, $BAC, is worried about bond market volatility and says risk of a 'crash' is rising, per CNBC.— unusual_whales (@unusual_whales) October 14, 2022 Why is the Swiss National Bank drawing BILLION USD (last two days) from the swap line with the U.S. FED?! #CreditSuisse @SNB_BNS #Trouble— ??Kyle Bass?? (@Jkylebass) October 14, 2022 Treasury might have to intervene directly again:THE US TREASURY HAS ASKED MAJOR BANKS WHETHER IT SHOULD BUY BACK SOME US GOVERNMENT BONDS IN ORDER TO IMPROVE MARKET LIQUIDITY.—

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Jeremy Smith writes UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)

Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained

Lars Pålsson Syll writes Schuldenbremse bye bye

Robert Skidelsky writes Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.