Podcasts about Treasury

Dr. Harald Malmgren and Nicholas Glinsman, co-founders and partners of Malmgren Glinsman Partners, join Julia La Roche on episode 106 for a deep discussion on macro, geopolitics, politics, and the implications for financial markets. Links: Malmgren-Glinsman Partners Daily Ahead of the Heard and Malmgren Institutional Research: https://d5d0c2-2.myshopify.com/ “China Will Be The Next Japan” paper: http://www.international-economy.com/TIE_W23_Malmgren.pdf 0:00 Welcome Harald and Nicholas to the show  1:00 Harald Malmgren's macro view  2:20 Huge debt situation worldwide, and growing U.S. budget deficit  3:30 Strong dollar, lots of disruption  4:55 U.S. Treasury Market is the ‘ultimate wrecking ball'  8:00 Malmgren-Glinsman's call on China  10:00 Problems for the Treasury Market  11:19 Looking 3-months, 6-months, and a year out  15:00 10-year Treasury likely going north of 5  20:25 Implications of higher rates  24:19 Negative economic outlook doesn't mean rates will come down 26:43 Stagflation/ where to invest in a stagflationary environment  37:20 Is it realistic to get back to a 2% inflation target?  42:00 When are we going to trim this fiscal monster?  43:30 The big risk today - the fiscal imbalance  49:00 Biden  53:58 Leadership  56:00 Message for Millennials  1:01:30 Hal Malmgren on political teamwork across parties  1:04:22 Parting thoughts 

This week, we're tracing the story of a historic heist. But it's not the one from the 1660s involving the Crown Jewels and the Tower of London that some people might recognise. This raid dates back more than 700 years to 1303 and the reign of King Edward I, taking place in unlikely surroundings. Helping us piece together the story are English Heritage's head properties curator Dr Jeremy Ashbee and medieval historian Sally Dixon-Smith. For more information about Chapter House and Pyx Chamber or to plan a visit, go to www.english-heritage.org.uk/visit/places/chapter-house-and-pyx-chamber.

Fed promises "higher for longer". 10-year Treasury broke 4.5% this morning.  Oil heading towards $100 Credit card losses are spiking and "excess savings" are now negative.  Does all this guarantee a recession and equities bear market in 2024? Texas is adding buses to take illegal migrants to NYC and Chicago. We could talk about the press conference AOC tried to hold in Manhattan... UK just passed an "online safety" law that effectively criminalizes dissent. Template for what's coming here?  Kennedy assassination attempt? (dare we say?) WaPo poll gave Trump a 10% lead over Biden. The paper then disavowed its own poll.  In this meeting, Kerry Lutz and John Rubino discuss a range of topics related to the economy, including the Fed's hawkish pause and its potential consequences, China's economic implosion and its impact on the global economy, the impact of green technology and automation on the economy, the military's purpose and culture, the Kennedy assassinations, and the potential consequences of flawed polling and voter fraud in the upcoming election. They highlight the precarious state of the economy and the potential risks that lie ahead, including a housing market crash, rising interest rates, and the impact of rising oil prices on the economy. They also discuss the limitations of electric cars and offshore wind, and how automation may lead to job loss and a shrinking social safety net. Furthermore, they delve into the challenges the military faces in recruiting individuals from different backgrounds and the importance of having a reserve army of unemployed people. They express skepticism about the official explanations for the deaths of JFK and RFK and suggest that the CIA was involved in both cases. Finally, they discuss the potential consequences of flawed polling and voter fraud in the upcoming election, highlighting the need for fair and accurate election practices. Overall, the discussion highlights the need for caution and careful consideration of the potential risks and challenges facing the economy and society as a whole. Visit John at: https://Rubino.Substack.com Visit Kerry at: https://FinancialSurvivalNetwork.com  

If government funding expires next week, the shutdown combined with other economic issues could make for a weak fourth quarter. Global Head of Fixed Income and Thematic Research Michael Zezas and U.S. Public Policy Analyst Ariana Salvatore discuss.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income and Thematic Research for Morgan Stanley. Ariana Salvatore: And I'm Ariana Salvatore from our U.S. Public Policy Research Team. Michael Zezas: Along with our colleagues, bringing you a variety of perspectives, we'll be talking about the market and economic impacts of a potential government shutdown later this week. It's Wednesday, September 27th at 10 a.m. in New York. Michael Zezas: So, Ariana, let's get right into it. Congress is up against a tight deadline with government funding set to expire on the first day of the next fiscal year, which is October 1st. What's the state of play? Ariana Salvatore: So the first thing I'll say is that the situation is very fluid at the moment with lots of uncertainty between now and Sunday. Last night, the Senate voted to advance a bipartisan clean C.R. or continuing resolution, which could eventually serve as the legislative vehicle to avoid a lapse in appropriations. Clean, in this sense, means that the bill includes little to no funding for Ukraine aid or disaster relief, two items that Republicans had previously taken opposition to. Right now, the ball's in Speaker McCarthy's court. He can choose one of three options, first, to bring the Senate C.R. to the floor and rely on moderates, and perhaps even some Democrats, to cross the aisle and pass the bill. Second, he can ignore it and try to continue with the House-led funding process. Or third, he can take the C.R. out on some Republican policy items like border funding, for example, and send it back to the Senate where it's almost certainly dead on arrival. Options two and three, because of that, increase the likelihood of a shutdown. But option number one really doesn't solve the problem either, as it would just punt the issue until later in the Fall, and in our view, increase the chances of McCarthy facing a motion to vacate the chair or a motion to oust him as speaker. So all of this is to say that a shutdown seems pretty likely at the time we're recording this. The question is, of course, how long it could last. Michael, how are you thinking about the possible duration of a shutdown, assuming we do, in fact, get to Sunday without significant progress being made here? Michael Zezas: So there's a few scenarios to consider here. One is a pretty brief shutdown, one that lasts for less than a week and ultimately ends with a continuing resolution. Perhaps Speaker McCarthy agrees to put the Senate pass continuing resolution on the floor for a vote. Another scenario is one that lasts for a few weeks. And here you might have a situation where House Republicans continue to oppose any continuing resolution. And after enduring a shutdown for enough time, federal employees' paychecks begin to lapse, economic pressure begins to build and all of a sudden there's just more acceptance around the idea of a continuing resolution to allow more time for negotiation. And then another scenario would be something that lasts quite a bit longer, several weeks. And here, you clearly have a breakdown in negotiation positions, members of the Republican caucus perhaps refusing to vote for any type of continuing resolution, there being major roadblocks on the issues you spoke about already, Ariana. And the potential way to fix this would have to be through something like a discharge petition where members of the House of Representatives work around Speaker McCarthy using procedural rules. But that's something that takes a long time to play out and could take several weeks to play out. So given all this uncertainty, sometimes it helps to look back at history as a guide. Ariana, what can we learn from similarities or differences between this and prior shutdown episodes? Ariana Salvatore: Well, for starters, while shutdowns are not necessarily routine, they're also not without precedent. There have been about 20 in total in U.S. history, but more recent ones have lasted longer. For example, the most recent in 2019 under President Trump, was also the longest clocking in at just over a month. However, that case was also unique to what we're seeing today because it was a partial shutdown, meaning that there were some agencies that had already received full-year funding. We've actually never had a full shutdown last more than about a week like we're seeing right now. This time around, because no agencies have received funding, we think there could be a broader based impact relative to the last shutdown that we saw. Michael, given that your focus is across all of fixed income, how are you thinking about the impact of a shutdown across our strategists market views? Michael Zezas: Yeah, well, our economists have flagged that a shutdown could shave about 0.05 percentage points off of fourth quarter growth every single week. That's not a substantial enough number on its own to necessarily impact markets, but it's coming at a time when there's other pieces of data coming in around the economy and other events in the economy that our economists have flagged that are pretty meaningful. The UAW strike, if it lasts for a long time and expands big enough, could have a substantial impact on GDP. There's the beginning of repayment of student loans that could crimp consumer behavior. And so, if you combine all those effects together, then it could make for a fourth quarter where the economic data is looking quite a bit weaker and inflation pressure is looking like it's cooling meaningfully. Those are the types of things that our strategists think should limit increases in bond yields from here. And that in turn means that total returns for bonds, both Treasury bonds and corporate bonds, look pretty attractive to us and it's one of the reasons that we continue to favor bonds over equities. Michael Zezas: So obviously, we'll continue to track this closely as the debate evolves. And Arianna, thanks for taking the time to talk. Ariana Salvatore: Great speaking with you, Michael. Michael Zezas: And thank you for listening. If you enjoy the show, please share Thoughts on the Market with a friend or colleague, or leave us a review on Apple Podcasts. It helps more people find the show.

Alan Campbell is sales and marketing director for ANEW Hotels and Resorts and he joins Pippa to consider an announcement by Treasury that budgeted spending for government travel, catering, and conferences will be slashed and the potential knock-on impact that this may have on our hospitality industry.See omnystudio.com/listener for privacy information.

The Dow plunges by almost 400 points to post its worst session since March. The U.S. 10-year Treasury hovers at its highest level since 2007. The U.S. competition watchdog, the FTC, launches an unprecedented probe into e-commerce giant Amazon, accusing it of inflating prices, hobbling competition and exploiting vendors. In Washington, a government shutdown looms as a bipartisan funding bill is put forward in the Senate but some Republicans continue to push a conflicting measure in the House of Representatives. President Joe Biden becomes the first leader to join a picket line, offering support to striking UAW members in Michigan.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

LPL Research discusses the recent technical damage done to the equity markets, the breakout in Treasury yields, and the uptick in India relative to China. Tracking #483169

Are you tired of wrestling with the complexities of banking systems? Imagine if there was a software that could simplify your payment operations and streamline your business' finances. Enter Modern Treasury, the game-changing platform that's transforming the payment operations landscape. Our guest on this episode is Sam Aarons, the CTO and co-founder of Modern Treasury. Sam unravels the intricacies of this unique software, its value proposition and its wide-ranging customer base. Spoiler alert: Modern Treasury does not hold money for their customers but provides a pure software service!Sam Aarons delineates the pain points businesses encounter when scaling up, and how Modern Treasury comes in handy. He articulates how his company's software mitigates the challenges of interacting with a bank's systems, while simplifying banking regulations. He also reveals how businesses can retain their existing banking relationships and fee structures without making any significant modifications. Lastly, we turn our sights to the future of payments, encompassing the impacts of faster payments on various aspects like payroll, consumer experiences, and inter-business transactions.  We delve into the future of payment systems in the U.S., touching on the benefits of Fed Now and real-time payments in propelling U.S. payments growth.

Real estate investors generally don't care about short-term interest rates. The short term rates affect the cost of capital for bridge financing where those loans are indexed to the secure overnight funds rate. Short term debt can be replaced with permanent financing. I really painful increase in borrowing costs is tied to long-term interest rates. We have experienced an inverted yield curve for much of the past two years. This past week, yields on the 10 year Treasury hit 4.5%, a 16 year high. When you read the mainstream media, it's as if the pricing for the 10 year Treasury is linked to inflation expectations and to some forecast of the Fed's higher for longer narrative.  The question is why have the yields on US government debt increased in particular over the last 60 days? The United States has issued $1 trillion of new debt over the last three months. They have literally flooded the market. When you flood the market with any commodity, prices will fall which means yields will rise. ---------- Host: Victor Menasce email: podcast@victorjm.com

Join us in this captivating episode as we talk to Martin Hoad, Group Treasurer at Centrica, a leading energy services and solutions provider.We chat to Martin about his journey in finance and treasury and the challenges he has faced throughout his career. With his expertise in treasury operations and financial risk management, Martin provides valuable insights into the world of treasury and the energy industry.In this episode, Martin shares his journey from his early interest in finance to his start in the treasury field. He discusses his experience working in insurance and the transition to corporate treasury. Martin talks about his roles at Harsco and Deloitte, highlighting the challenges and rewards of working in consultancy and interim positions. He then dives into his current role at Centrica and the changes and developments he has witnessed in the energy industry. We also get to hear Martin thoughts on key topics such as technology, interest rates, and the evolving landscape of treasury, including the impact of cryptocurrencies and ESG considerations.On the podcast we discussed… Martins career journey to date as a seasoned treasury professional The challenges and opportunities he has faced in different industries within treasury The benefits of working in consultancy and interim positions The importance of continuous learning and staying curious in treasury The impact of technology, interest rates, and emerging trends on treasury The role of treasury within the energy industry and in managing financial risks The impact of cryptocurrencies and ESG considerationsYou can connect with Martin Hoad on LinkedIn. Are you interested in pursuing a career within Treasury? Whether you've recently graduated, or you want to search for new job opportunities to help develop your treasury career, The Treasury Recruitment Company can help you in your search for the perfect job. Find out more here. Or, send us your CV and let us help you in your next career move!If you're enjoying the show please rate and review us on whatever podcast app you listen to us on, for Apple Podcasts click here! Subscribe to the Treasury Career Corner podcast newsletter to receive a link to every week's episode as soon as it's published via click here!

Wall Street breaks a four-day losing streak, this despite the U.S. Treasury yield breaching a high from 2007. We hear from Chicago Fed President Austan Goolsbee who says the central bank is on the right track to reining in inflation. Ratings agency Moody's says that another U.S. government shutdown could risk its AAA sovereign rating as federal funding discussions continue to drag on. Chinese property giant Evergrande sees losses extend for a second day after one unit misses an on-shore bond interest payment. Brussels and Beijing attempt to diffuse trade tensions. EU Trade Commissioner Valdis Dombrovskis urges the two not to drift apart. In autos news, we hear from Nissan CEO Makoto Uchida who pledges his company will only sell EVs by 2030 and hails its foothold in the Chinese market.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Rich Zeoli Show- Hour 3: Jacob Sullem of Reason writes, “Last year in New York State Rifle & Pistol Association v. Bruen, the U.S. Supreme Court overturned that state's restrictions on public possession of handguns for self-defense. A week later, the Court vacated four appeals court decisions upholding state gun control laws and remanded the cases for further consideration in light of Bruen. One of those cases, Duncan v. Bonta, involved California's ban on magazines that hold more than 10 rounds, which a federal judge deemed unconstitutional in a decision published on Friday.” You can read Sullem's full article here: https://reason.com/2023/09/24/californias-10-round-magazine-limit-is-unconstitutional-a-federal-judge-rules-again/ Governor Gavin Newsom (D-CA) vetoed California Bill AB957 which would have required state judges to guarantee parents are open to “gender affirmation” care for their children when deciding custody battles. Is Newsom's move towards moderation an indication that he's planning to run for president in 2024? Dave McCormick—Republican Candidate for U.S. Senate in Pennsylvania & former Under Secretary of the Treasury for International Affairs during the George W. Bush Administration—joins The Rich Zeoli Show to talk about his campaign and how Sen. Bob Casey Jr. (D-PA) has voted with President Joe Biden's agenda 98% of the time. You can learn more about his campaign here: https://www.davemccormickpa.com

Thomas Hoenig is a distinguished senior fellow with the Mercatus Center at George Mason University, where he focuses on the long-term impacts of the politicization of financial services as well as the effects of government-granted privileges and market performance. He was formerly the vice chair of the FDIC from 2012 to 2018 and the 20 years prior to that, he was president of the Kansas City Federal Reserve Bank. Tom is also a returning guest to Macro Musings, and he rejoins to talk about the Treasury market, public debt sustainability issues, and the state of banking in the United States. David and Tom also discuss the history of Tom's influence on the Jackson Hole Conference, the growing size of the US current account deficit, the Fed's role as the primary Treasury market backstop, the dangers of risk-weighted capital regulation, and more.   Transcript for this week's episode.   Register now for the Bennett McCallum Monetary Policy Conference!   Thomas's Twitter: @tom_hoenig Thomas's Mercatus profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Join the Macro Musings mailing list! Check out our new Macro Musings merch!   Related Links:   *Housing IS the Business Cycle* by Edward Leamer   *Understanding the Greenspan Standard* by Alan Blinder and Ricardo Reis   *Living with High Public Debt* by Serkan Arslanalp and Barry Eichengreen   *Has Financial Development Made the World Riskier?* by Raghuram Rajan   *Resilience Redux in the US Treasury Market* by Darrell Duffie   *Meet the Man Making Big Banks Tremble* by Jeanna Smialek and Emily Flitter

Technology is changing rapidly. Recently completed research on the topic of treasury technology brought many interesting data points and trends to light. Join Jon Paquette of TIS and Craig Jeffery of Strategic Treasurer as they talk through the implications for treasury. Their discussion includes technology adoption rates, the growing value of technology investments, and the use of AI and machine learning in treasury. Download the survey report here: https://strategictreasurer.com/2023-treasury-technology/

The Rich Zeoli Show- Full Episode (09/25/2023): 3:05pm- A new Washington Post/ABC News survey indicates that presumptive Republican nominee for president Donald Trump has a 9-point lead over President Joe Biden—51% to 42%. Interestingly, Trump holds a 20-point lead over Biden with voters under the age of 35 in the hypothetical rematch. 3:25pm- Chairman of the Senate Foreign Relations Committee Robert Menendez (D-NJ) has been charged with accepting hundreds of thousands of dollars in bribes in exchange for providing Egypt with “sensitive U.S. government information.” During a Friday press conference announcing a three-count indictment, U.S. Attorney for the Southern District of New York Damian Williams explained that federal prosecutors found $500,000 in cash, as well as gold bars, in Sen. Menendez' home—some of which contained fingerprints or DNA of Fred Daibes, a real estate developer also accused of bribing Menendez and his wife Nadine. According to The New York Times, Daibes pled guilty to financial crimes in 2022. Senator Menendez and his wife have both denied the criminal conduct alleged by prosecutors. You can read more about the story here: https://www.nytimes.com/2023/09/22/nyregion/robert-menendez-indicted.html 3:30pm- On Monday, Senator Robert Menendez (D-NJ) held a press conference to address charges of corruption. Menendez insisted he was innocent and explained that he held nearly half-a-million in cash at his home for “emergencies.” 3:35pm- In an article for NJ.com, Tom Moran writes: “Look past the bars of gold, the envelopes stuffed with cash, and the shiny new Mercedes parked in the garage of Sen. Robert Menendez. Bad as that stench is, it's far from the worst of it. For that, you need to cast an eye to the torture chambers run by Egypt's military dictatorship, where security goons rape women to pressure their husbands in the next cell, where they clamp metal grips to men's genitals and shock them into submission, where they hang teens by their arms, tied behind their back, and leave them until their shoulders dislocate. That's the dictatorship that Menendez has been helping since 2018, according to the federal indictment dropped Friday.” You can read the full article here: https://www.nj.com/opinion/2023/09/gold-bars-for-menendez-torture-for-jailed-egyptians-moran.html 3:45pm- Congressman Andy Kim (D-NJ)—who represents New Jersey's 3rd District—has announced that he will challenge Sen. Robert Menendez (D-NJ) in New Jersey's Democratic primary for U.S. Senate. You can read more here: https://www.cnn.com/2023/09/23/politics/menendez-andy-kim-senate/index.html 4:05pm- On Monday, Democratic presidential candidate Robert F. Kennedy Jr. held a press conference at the southern border to address the flood of migrants unlawfully entering the United States. Kennedy stated: “As President, I will make the border impenetrable to illegal migrants, but we can't afford to wait a year and a half for that to happen. That is why I am calling on Democratic and Republican leaders to unify on this issue. I'm asking Democrats in particular to reexamine their assumption that a loose border is somehow more compassionate. It is not. It has created a humanitarian crisis for the migrants that is now destroying our cities, crushing our social services, and harming the working poor by undercutting their wages.” You can learn more about the event here: https://www.kennedy24.com/kennedy_slams_biden_border_policy 4:15pm- New York Governor Kathy Hochul (D) announced that the National Guard will be deployed to help her state deal with the surge in undocumented migrants. 4:20pm- On Sunday, 60 Minutes documented that the United States is financing more than just defense weapons in Ukraine—an enormous amount of tax-payer money is also being used for farming, 57,000 first responder salaries, and the subsidization of Ukrainian small businesses. 4:25pm- On Meet the Press, political analyst Steve Kornacki said there is “nothing but good news” for Donald Trump when reviewing the latest polling numbers. 4:35pm- While appearing on Face the Nation, host Margaret Brennan asked Rep. Alexandria Ocasio Cortez why she bought an electric vehicle that was not “union-made”? Ocasio Cortez nonsensically explained that she bought her vehicle before the COVID-19 pandemic. 4:40pm- Reporter Jon Levine attempted to dine at some of New York's finest restaurant's while wearing shorts and a sweatshirt—dressed similarly to Senator John Fetterman (D-PA). Unsurprisingly, the restaurants did not allow Levine into the dining room, explaining that he was in violation of the dress code. Last week, Senate Majority Leader Chuck Schumer (D-NY) stopped enforcement of the Senate's dress code—many believe the decision was made to appease Fetterman. 5:00pm- Jacob Sullem of Reason writes, “Last year in New York State Rifle & Pistol Association v. Bruen, the U.S. Supreme Court overturned that state's restrictions on public possession of handguns for self-defense. A week later, the Court vacated four appeals court decisions upholding state gun control laws and remanded the cases for further consideration in light of Bruen. One of those cases, Duncan v. Bonta, involved California's ban on magazines that hold more than 10 rounds, which a federal judge deemed unconstitutional in a decision published on Friday.” You can read Sullem's full article here: https://reason.com/2023/09/24/californias-10-round-magazine-limit-is-unconstitutional-a-federal-judge-rules-again/ 5:20pm- Governor Gavin Newsom (D-CA) vetoed California Bill AB957 which would have required state judges to guarantee parents are open to “gender affirmation” care for their children when deciding custody battles. Is Newsom's move towards moderation an indication that he's planning to run for president in 2024? 5:40pm- Dave McCormick—Republican Candidate for U.S. Senate in Pennsylvania & former Under Secretary of the Treasury for International Affairs during the George W. Bush Administration—joins The Rich Zeoli Show to talk about his campaign and how Sen. Bob Casey Jr. (D-PA) has voted with President Joe Biden's agenda 98% of the time. You can learn more about his campaign here: https://www.davemccormickpa.com 6:05pm- According to a report from The Wall Street Journal, U.S. taxpayers are paying an estimated $28,000 a week to keep mold out a yacht seized from a sanctioned Russian billionaire—and an additional $2,000 a day in fuel to run the air-conditioning! You can read the full report here: https://www.wsj.com/world/europe/taxpayers-stuck-paying-the-bills-for-oligarchs-seized-yachts-and-mansions-afd442e4 6:15pm- During her Monday press briefing, White House Press Secretary Karine Jean-Pierre would not say, when asked, whether President Joe Biden supports the United Auto Workers' (UAW) demand for a 4-day work week with an increase in compensation. 6:20pm- While speaking with CNN, co-chair of President Joe Biden's reelection campaign Sen. Chris Coons (D-DE) reacted to new polling which indicates Donald Trump is running 9-points ahead of Biden. Coons explained, “right now the polls head-to-head are more concerning than I would expect.” 6:25pm- While appearing on Face the Nation with Margaret Brennan, Rep. Alexandria Ocasio Cortez (D-NY) bizarrely blamed Sen. Marco Rubio (R-FL) for the immigration crisis at the U.S. Southern border. She seemingly concluded that the U.S. should remove sanctions from Venezuela and the authoritarian Nicolas Maduro regime. 6:30pm- On Sunday, 60 Minutes documented that the United States is financing more than just defense weapons in Ukraine—an enormous amount of tax-payer money is also being used for farming, 57,000 first responder salaries, and the subsidization of Ukrainian small businesses. 6:40pm- Last week, a missing Lockheed Martin F-35 Lightning II valued at $90 million was located. The stealth jet went missing after a pilot was forced to eject over North Carolina—a debris field has been spotted in Williamsburg County. We now have incredible audio of the pilot calling 9-1-1 and speaking to a very confused emergency operator. 6:45pm- On Monday, Senator Robert Menendez (D-NJ) held a press conference to address charges of corruption. Menendez insisted he was innocent and explained that he held nearly half-a-million in cash at his home for “emergencies.” 6:50pm- It's official! Taylor Swift is dating Kansas City Chiefs tight end Travis Kelce. Is Rich a “Swiftie”?

The overnight fed funds rate is 5.3% but how much are you getting from that in your bank account? How much are you getting from your stablecoins?  Today on the show Martin Carrica walks us through a world in which we can tokenize treasuries instead of just dollars. ------ ✨ DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-onchain-t-bills/  ----- Check your wallet with our brand new tool: Claimables

The 10 year treasury yield at 4.46% shows the market is not convinced that the inflation fight is done. The dollar likes higher yields, it also likes the fact that Germany's preliminary September manufacturing PMI is at 39.8, the lowest since the pandemic mobility restrictions of 2020. At 148.4 to the dollar, the yen is it's lowest since 1990. Bank of Japan Governor Ueda said on Friday "We have yet to foresee inflation stably and sustainably achieve our price target. That's why we must patiently maintain ultra-loose monetary policy". Yet core inflation in Japan is 4.3%, and has been above the 2% price target since May. The fourth quarter is typically the best quarter of the year for the S&P 500 index, with an average return of 3.6%. In years when it rose 10% or more in the first three quarters of the year, the fourth quarter return was on average 4.6%. There are still five days to go before the third quarter ends, but so far this year, the S&P is up 12.5%.

Today, I am joined by Rob Hays, the CEO of Atom Computing, a company specializing in the creation of scalable, gate-based quantum computers. In an era where quantum computing is quickly evolving from theoretical research to practical application, Rob Hays comes forward with an impassioned perspective on why the United States needs to lead the global race in this pivotal technology.  As we unpack his views, you will discover a detailed roadmap that includes increased public funding, diversified investment strategies, and the essential role of government partnerships. Rob and I also tackle the increasingly important topic of talent acquisition and retention in the burgeoning field of quantum technologies. The conversation illuminates the U.S.'s struggles and opportunities as it attempts to maintain a competitive edge, particularly when pitted against international rivals in the technology sector. However, this isn't merely about a race but the consequences of who crosses the finish line first. We will explore the monumental economic value and the array of industries that stand to benefit from large-scale quantum computing. Moreover, we will touch upon the implications of new rules under consideration by U.S. Treasury officials that could restrict the flow of investments and knowledge to foreign companies, particularly in China, which is making strides in semiconductors, AI, and quantum computing. Join us as we engage in an incisive discussion that goes beyond the headlines to provide a nuanced understanding of the complexities, challenges, and vast opportunities in the world of quantum computing. 

On this week's episode of the Escape Your Limits podcast, our guest is Tara Dillon, one of the most experienced and influential people in the UK fitness industry. Tara has dedicated her entire career to pushing up professional standards within the leisure sector.  Following many years in operations and public sector management roles, Tara took on the role of Executive Director at the IQL UK – driving professional standards in water safety, before being appointed as CEO of the Chartered Institute for the Management of Sport and Physical Activity (CIMSPA). CIMSPA is the official professional development body for the UK's sport and physical activity sector. Having gained Chartered status in 2012 - a feat many thought impossible to achieve let alone maintain - Tara has established CIMSPA as a core systems partner in the delivery of Sport England's 10 year Uniting The Movement strategy, fully committed to supporting the sector's collective ambition to get more people, more active more often. Tara is an approachable, passionate professional, who leads by example. With Tara at the helm, CIMSPA has grown from a handful of dedicated employees to an expanding workforce that is in the middle of a large recruitment drive. With CIMSPA officially recognized as a Best Companies 3-Star World Class company and awarded #1 best company to work for in the not-for-profit sector, Tara has created a company culture that supports everyone to be the best they can be. Today, Tara Dillon talks about: The role of CIMSPA and how it came about. The achievement of Chartered status and its significance. The challenge of being heard by government.  The importance of data.  Cracking the Treasury. The value of a preventative health strategy.  How people are loyal to people. Engaging the older population. To learn more about CIMPSA: https://www.cimspa.co.uk/ ====================================================== Subscribe to our YouTube channel and turn on your notifications so you never miss a new video when it's published: https://www.youtube.com/user/EscapeFitness Shop gym equipment: https://escapefitness.com/shop View our full catalogue: https://escapefitness.com/support/catalogue ====================================================== Facebook: https://www.facebook.com/Escapefitness Instagram: https://www.instagram.com/escapefitness Twitter: https://www.twitter.com/escapefitness LinkedIn: https://www.linkedin.com/company/escapefitness/  

Le'Angela Ingram brings, over a decade of experience in a variety of private, public, and academic organizations in the areas of Change Management, Staff Training and Development, Career Development, Organization Development, Human Resource Assessment, Workforce Diversity, her work efforts focus on improved organization effectiveness, staff skills and employee commitment, and increased employee sensitivity to individual and cultural differences; reduction in cycle time and cost; and increased effectiveness and efficiency of workflow. She designs, develops, and launches customized seminars and conferences in diversity, leadership skills, change management, and team building yielding high ratings in content and quality for more than 200 federal agencies. Selected clients include Washington Hospital Center, US Department of State, USAID, US Department of Commerce, US Attorneys' Office, District of Columbia Superior Court, US Department of Housing and Urban Development (HUD), Graduate School USA, Department of Treasury, Department of Health and Human Services, Anne Arundel Community College, Johns Hopkins University and Sprint. Ms. Ingram earned a Bachelor of Business Administration and Marketing from Howard University. She also holds a Master of Science in Applied Behavioral Science (Organization and Human Resource Development) from The Johns Hopkins University, where she also completed Fellowships in Change Management and Women, Leadership and Change and holds coaching certificates. She is currently pursuing a Doctorate degree in Leadership and Learning Organizations, Candidate 2023. She is certified in Transition Management and Myers Briggs Type Indicator. She is the proud Nina to Alex, Kayla and Brianna and the mother of 2, Dannielle and Joshua. For fun you can find her on blue water beaches, listening to jazz and investing time with friends and family. As a native Washingtonian she enjoys seeking out new small venues for dining. Additionally, I'll be donating to and raising awareness for the charity or organization of my guest's choice with each episode now. This episode, the organization is called House of Ruth. Any and all donations make a difference! You can connect with Le'Angela on: Website - https://www.consultingram.com/about LinkedIn - https://www.linkedin.com/in/le-angela-ingram/ To connect with me: Interested in working with me as your coach? Book a complimentary 15 minute call here. https://calendly.com/mike-trugman/15min LinkedIn - https://www.linkedin.com/in/michael-trugman-37863246/ Instagram - https://www.instagram.com/mytrugofchoice/?hl=en   Website - https://miketrugmancoaching.com/ Subscribe to my weekly newsletter - https://miketrugman.us7.list-manage.com/subscribe?u=986490d5c62a0102122f3ce27&id=33d78ffe68 YouTube - https://www.youtube.com/channel/UCUPyP3vEWc-oDlGASe2XIUg Please leave a review for this podcast on Apple Podcasts! - https://podcasts.apple.com/vg/podcast/mike-s-search-for-meaning/id1593087650?utm_source=Mike+Trugman&utm_campaign=dcbd0b11b0-EMAIL_CAMPAIGN_2022_03_08_12_14&utm_medium=email&utm_term=0_33d78ffe68-dcbd0b11b0-510678693   Resources/People Mentioned: Servant Leadership - Robert K. Greenleaf Appreciative Inquiry - David L. Cooperrider Getting to Yes - Roger Fisher Black Faces in White Places - Randal Pinkett Transitions: Making Sense of Life's Changes - William Bridges Flawless Consulting - Peter Block The Consultant's Calling - Geoffrey M. Bellman Nancy Rosenshine Appreciative Inquiry Kouzes and Posner

To commemorate the anniversary of Trussonomic Mini-budgeting, Christian talks to Professor John T. Harvey about what determines currency prices and more.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast     All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our patron-only episodes: https://www.patreon.com/posts/57542767     LIVE EVENTS!   Economics Of The Real World (Edinburgh, Scotland 21st March 2024): https://scotonomics.scot/live-events/ Scotonomics Festival Of Economics (Dundee, Scotland 22-24th March 2024): https://scotonomics.scot/live-events/   Order the Gower Initiative's “Modern Monetary Theory - Key Insights, Leading Thinkers”: https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   Relevant to this episode: All our episodes with John T. Harvey: https://www.patreon.com/posts/44371783 John's Cowboy Economist channel: https://www.youtube.com/@cowboyeconomist8126 John's Forbes blog: https://www.forbes.com/sites/johntharvey/?sh=4ec648f3685c “Taxes For Revenue Are Obsolete” by Beardsley Ruml: https://realprogressives.org/taxes-for-revenue-are-obsolete/ “Money Growth Does Not Cause Inflation!” by John T Harvey: https://realprogressives.org/money-growth-does-not-cause-inflation/ Our episodes with Dr Sam Levey about war mobilisation: Episode 32 -How Uncle Sam Paid For World War II (part 1): https://www.patreon.com/posts/30005574, (part 2) https://www.patreon.com/posts/30112818, Episode 76: MMT For Mainstream Economists And Mobilisation Theory (part 1): https://www.patreon.com/posts/43697752, (part 2): https://www.patreon.com/posts/43886189     For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/     For a short, non-technical, free ebook explaining MMT, download Warren Mosler's “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf     Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929      Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/     More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true   More on Silicon Valley Bank and bank runs: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true MMT founder Warren Mosler's Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html     MMT Events And Courses: More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Details of Modern Money Lab's online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/     MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies   MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship     A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757     We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos     Show notes: https://www.patreon.com/posts/89667799?pr=true

The Daily Show time travels back to this day in 2008: The Secretary of Treasury had just proposed a $700 billion economic recovery plan to bail out the failing banking industry, causing outrage from American taxpayers. Jon Stewart is joined by John Oliver for an analysis on how dire the situation could get, and President Clinton sits down with Jon to break down why Americans are upset, and what the federal government could be doing instead of writing a blank check to the banks.See omnystudio.com/listener for privacy information.

We are nine days away from another government shutdown if Congress can’t reach a spending deal. We’ll hear from Treasury Secretary Janet Yellen on what a shutdown could do to our current economy. Plus, the facial recognition story that creeped out Kai. And, did you remember? We’re celebrating one of Earth, Wind & Fire’s greatest hits. Here’s everything we talked about: “‘Absolutely no reason’ for a government shutdown, says Treasury secretary” from MSNBC “Barrymore apologizes to unions for resuming show” from YouTube “Clearview AI could change privacy as we know it” from Marketplace “Earth, Wind & Fire – September” from YouTube Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We'll have news, drinks, a game and more.

In the third episode in TMI and HSBC's Sibos Spotlight podcast series, Manish Kohli (HSBC) sits down with TMI's Eleanor Hill to explore key considerations for corporate treasurers in today's digital landscape. Our guest delves into the processes and technologies that treasury teams should prioritise, focusing on their rationale and outcomes, and outlines consequences for those who fail to embrace digital transformation. Additionally, he examines the pivotal role banks play in enhancing client data management, and their significance in helping to achieve real-time treasury success.

Here's what is happening in the markets today, Friday, September 22nd Markets drop as Fed stays hawkish Stocks heading for big losing week 10-year Treasury yield  highest in more than 15 years. VIX (Fear Index) surges PLUS: How we trade these markets and our current positions This wraps up today's stock market news. If you enjoyed the "Stock Market Today" episode, make sure to subscribe to this podcast.  And for more stock market news,  visit our YouTube Channel: https://youtube.com/rockwelltrading2008 #todaysstockmarket #stockmarkettoday #stockmarket

We are nine days away from another government shutdown if Congress can’t reach a spending deal. We’ll hear from Treasury Secretary Janet Yellen on what a shutdown could do to our current economy. Plus, the facial recognition story that creeped out Kai. And, did you remember? We’re celebrating one of Earth, Wind & Fire’s greatest hits. Here’s everything we talked about: “‘Absolutely no reason’ for a government shutdown, says Treasury secretary” from MSNBC “Barrymore apologizes to unions for resuming show” from YouTube “Clearview AI could change privacy as we know it” from Marketplace “Earth, Wind & Fire – September” from YouTube Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We'll have news, drinks, a game and more.

Wall Street is having its worst week since March posting a third consecutive day in the red with the 10-year Treasury yield stalled at levels not seen since 2007. The BoJ maintains its ultra-low interest rate causing the yen to fall. This as inflation data comes in above target for the 17th month in a row. Sterling also plunges to a six-month low after the Bank of England governor Andrew Bailey casts the tie-breaking vote to hold rates steady following 14 consecutive increases. In autos news, talks remain stalled between Detroit's Big Three and UAW bosses ahead of a deadline later today. More sporadic strikes have been promised unless an agreement is found. And News Corp and Fox Corp chairman Rupert Murdoch steps down from the helm to pass the reins on to son Lachlan. He will remain as chairman emeritus of the media empire. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We start this week with our thoughts on the Fed estimating rates will be higher for longer. We'll then dive into the craziness of the venture capital industry over the last few years and how interest rates are playing a role. We finish with a historical perspective on 10-year U.S. Treasury bonds and bullish takes on Taylor Swift and our New Orleans Saints. Key Takeaways [00:18] - Checking in with Jerome Powell and the Fed  [04:41] - Instacart IPO & the competition within the venture capital industry [14:03] - How interest rates are affecting real estate and venture capital [15:58] - Ten-Year Treasuries [22:40] - LA tent city, T-Swift economics, and excitement for the Saints  Links Current projections for Fed Funds Rate Investments in Instacart made after ‘15 underperforming S&P 500 significantly Home price index with an 18-month lag versus CPI Demand for vacation homes at 7 year low Total returns on an annual basis of the 10-year US Treasury bond Timmer: A compelling risk-reward picture for owning bonds Meb Faber: The Ivy Portfolio California tent city to cost $44k per tent Taylor Swift helps Chicago book most hotel rooms on record Connect with our hosts Doug Stokes Greg Stokes Stokes Family Office Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts lagniappe.stokesfamilyoffice.com Disclosure The information in this podcast is educational and general in nature and does not take into consideration the listener's personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate, qualified professional prior to making a final decision.

Here's what is happening in the markets today, Thursday, September 21st Markets drop as Fed stays hawkish Stocks lower for 3rd day in a row 10-year Treasury yield  highest in more than 15 years. Tesla (TSLA), Alphabet (GOOG),  Meta (META) Platforms and Nvidia (NVDA) tumble as rates seen higher for longer FedEx (FDX) delivers earnings beat PLUS: How we trade these markets and our current positions This wraps up today's stock market news. If you enjoyed the "Stock Market Today" episode, make sure to subscribe to this podcast.  And for more stock market news,  visit our YouTube Channel: https://youtube.com/rockwelltrading2008 #todaysstockmarket #stockmarkettoday #stockmarket

While attention is focused on economists finding a $500 million-dollar-a-year hole in National's tax plans, a similar-sized hole in climate costings is hiding in plain sight - and it applies to Labour, too. The gulf was highlighted in Treasury's pre-election look at the Government's books which does not include the cost of meeting New Zealand's international climate target under the Paris agreement. Asked how they would pay, the Labour and National leaders have given unclear answers. RNZ Climate Change Correspondent Eloise Gibson spoke to Ingrid Hipkiss.

Federal Reserve officials on Wednesday signalled support for another rate rise this year and fewer cuts in 2024, share buybacks on the US stock market have dropped to the slowest pace since the early part of the Covid-19 pandemic, and the FT's Gideon Rachman talks about his new three-part podcast series on Bidenomics. Mentioned in this podcast:Federal Reserve signals fresh rate rise this year and fewer cuts in 2024Two-year Treasury yield hits highest point since 2006 after Fed decisionCompanies ease off on share buybacks as rising interest rates push up costsThe Rachman Review podcast: BidenomicsThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT's executive producer. The FT's global head of audio is Cheryl Brumley. The show's theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The major indexes fell for a third straight day as an ongoing climb in Treasury yields and the prospects for another Fed rate hike unnerved investors.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Investing involves risk, including loss of principal.Past performance is no guarantee of future results.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.

“The 10-year Treasury ending the year around 4.2-4.3% seems fair, but the recent selloff has been overdone,” William Marshall, head of US rates strategy at BNP Paribas says. Marshall joins host Ira Jersey, Bloomberg Intelligence's chief US interest rate strategist on the Macro Matters edition of the FICC Focus Podcast to discuss his market views in the wake of the September FOMC meeting. The pair dissect recent yield moves across the curve, as well as underlying catalysts and narratives. These include a persistently high federal deficit, elevated Treasury issuance and potential sources of demand for securities amid a deluge of T-bill and coupon issuance. Marshall sees no broad liquidity pressures on funding markets via the impact of the Fed's asset runoff, which could continue past his expectations for interest rate cuts beginning in June.

Small and medium agricultural enterprises (agri-SMEs) are Africa's largest employer and economic engine—and the key to transforming food systems and improving food security for the continent. Yet three out of four agri-SMEs can't access formal bank financing, and are too large for microfinance, creating an estimated $100 billion gap in unmet demand for financing. How can donor governments, development finance institutions, African governments, and the private sector catalyze action to strengthen food value chains in Africa through innovative financing, and better support small and medium agricultural enterprises? The event is co-hosted with the United States Agency for International Development (USAID) and the Royal Norwegian Ministry of Foreign Affairs. This special Leadership Panel on strengthening food value chains was held September 18, 2023 at the World Economic Forum's New York headquarters. - Speakers: William Samoei Ruto, President of Kenya, Office of the President of Kenya; Scott Nathan, Chief Executive Officer, U.S. International Development Finance Corporation; Samantha Power, Administrator, US Agency for International Development (USAID); Rebecca Enonchong, Founder and Chief Executive Officer, AppsTech;Janet L. Yellen, Secretary of the Treasury, US Department of the Treasury; Jacqueline Novogratz, Founder and Chief Executive Officer, Acumen; Børge Brende, President, World Economic Forum Geneva; Anne Beathe Tvinnereim, Minister of International Development, Norway Government; Akinwumi Ayodeji Adesina, President, African Development Bank (AfDB). Watch the session here: https://www.weforum.org/events/sustainable-development-impact-meetings-2023/sessions/leadership-panel-bridging-the-gap-financing-africas-agricultural-growth About the Sustainable Development Impact Meetings: https://www.weforum.org/events/sustainable-development-impact-meetings-2023

After consultations with the Bank of England, the Treasury issued a statement announcing its intention to suspend the gold standard on Sunday 20 September, and parliament approved the Bill the next ...

This week on Unorthodox, we're preparing for Yom Kippur by learning how to communicate better.  We interview linguist Deborah Tannen, who coined our favorite phrase, “cooperative overlap.” She explains the real reason why we're always interrupting each other on this show, and shares some tips for talking to people with different conversational styles.  We talk to Julie Rice, co-founder of Soul Cycle, whose new project, Peoplehood, teaches people how to better listen and communicate with each other. She tells us why we should be working out our “empathy muscles,” and what we can learn when we finally shut up and listen. We chat with Mitchell Silk, the former Assistant Secretary of the Treasury for International Markets (and the first Hasidic Jew to be appointed to a Senate-confirmed position in the federal government). He recently published the first English translation of the Kedushas Levi, a classic Hasidic commentary on the Torah. He shares how communication, whether in Chinese, Hebrew, or English, is the key to revealing what we all have in common.  Vote for us in the Signal Awards! We're finalists for our ‘Across The JEW.S.A: Louisville, Kentucky' episode (vote here!) and for our limited series podcast ‘The Franchise: Jews, Sports, and America' (vote here!). We appreciate your support.  We love to hear from you! Send us emails at unorthodox@tabletmag.com, or leave a voicemail at our listener line: (914) 570-4869.  Check out our Unorthodox tees, mugs, and hoodies at tabletstudios.com.  Find out about our upcoming events at tabletmag.com/unorthodoxlive. To book us for a live show or event, email Tanya Singer at tsinger@tabletmag.com. Subscribe to our weekly newsletter to get new episodes, photos, and more. Join our Facebook group, and follow Unorthodox on Twitter and Instagram.  Unorthodox is produced by Tablet Studios. Check out all of our podcasts at tabletmag.com/podcasts. SPONSORS: Hadassah is hosting “Inspire Zionism: Tech, Trailblazers and Tattoos,” a two-day online event featuring panels with inspiring Zionist women, hosted by our own Stephanie Butnick. To join the conversation October 25 and 26, register at go.hadassah.org/inspire.  This High Holiday season, help HIAS provide vital services to refugees in more than 20 countries around the world. All donations through September 22 will be matched, doubling your impact. You can learn more at hias.org/unorthodox.  American Jewish University (AJU) invites you to join them for their Fall semester of online learning. To learn more and register, visit aju.edu/open and use code unorthodox for a 10% discount.

George Goncalves, MUFG Head of U.S. Macro Strategy, returns to review the price action since the summer break and what to expect from the FOMC at the upcoming meeting. George views the current environment as the most challenging for bond bulls, as the longer the Fed stays on hold with all this additional Treasury supply hitting the market, the pull toward higher rates will remain a powerful force. Granted, George does not believe that the window that will be afforded to the Fed staying “higher for longer” will be one that is long enough to fully normalize the yield curve towards the current level of Fed funds (because we expect the policy lags to hit the economy hard in Q4 into 1Q24). That said, the Fed can still use forward guidance signals, such as keeping their rate forecast “dot-plot” higher as a counter-balance to a bond market that is always looking for the next reason to rally. In terms of the FOMC meeting, we expect a slightly hawkish outcome, where the dots will try to pave the way for the Fed to signal they want rates to stay higher. Lastly we expect no change in actual Fed rate policy, a hawkish skip (i.e. no hike at this meeting) is our base-case.

The U.S. 10-year Treasury yield hits its highest level since 2007, putting pressure on stocks around the world ahead of today's Fed rate decision. Rising rates across the world have pushed debt to a fresh record high of more than $300tn. Online grocery delivery firm Instacart debuts on the Nasdaq with shares closing up 12 per cent. CEO Fidji Simo tells our colleagues Stateside that post-pandemic growth is paramount. Ark Invest launches on the European ETF market snapping up specialist thematic group Rize. We hear from European Commission Vice-President Maroš Šefčovič who says the bloc seeks a balanced trading relationship with Beijing and has denied plans for tariffs on Chinese electric cars in the future.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A potential debt-deflation cycle in China could spell opportunity for U.S. Treasuries and Asia corporate bonds outside of China.----- Transcript -----Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income and Thematic research for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about the impact of China's economy on fixed income markets. It's Wednesday, September 20th, at 10 a.m. in New York. We spend a lot of time on this podcast talking about the market ramifications of the evolving US-China relationship, and understandably so, as they are the world's biggest economies. But today, I want to focus more on the evolving economy inside of China and how it has implications for global fixed income markets. A few weeks ago on Thoughts on the Market, my colleague Morgan Stanley's Global Chief Economist Seth Carpenter, detailed how our Asia economics team is increasingly calling attention to what they term China's 3D challenge of debt, demographics and deflation. In short, there's a risk that servicing high levels of debt in China's economy could strain its weak demographic profile and dampen demand in the economy, all leading to a debt deflation cycle. While such an adverse outcome currently is in our economists base case, there's been material slowing in China's economic growth. So in either case, China, at least for the moment, is a weaker consumer on the global stage, meaning they may effectively export disinflation to developed market countries. And while our economists flag this weakness may not translate to substantial disinflation pressures, they also note directionally it may help already cooling inflation in places like the United States. Understandably, our team in fixed income research across the globe is focused on many potential impacts from the spillover effects of China's 3D challenge. But there's two that stand out to me as most relevant to investors. First, for investors in U.S. Treasury bonds, this disinflation pressure, even if modest, could help push yields lower in line with our preference for owning bonds over equities. That disinflation pressure could add to other more meaningful pressures in the U.S. in the fourth quarter, as student loan repayments start in the absence of major entertainment events that were a one time shot to consumption this past summer. Second, if you're an investor in corporate bonds, our Asia corporate credit team sees opportunities to diversify away from China Credit, which has been struggling to deliver solid risk adjusted returns and remains concentrated in the property sector, with our team seeing opportunities in Japan, Australia and New Zealand in particular. Credit markets in these countries not only provide geographical diversification but also diversification into sectors like financials and materials. This is a developing story that's sure to impact the global outlook for the foreseeable future, and you can be sure we'll keep you updated on how it will influence markets. Thanks for listening. If you enjoy the show, please share Thoughts on the Market with a friend or colleague, or leave us a review on Apple Podcasts. It helps more people find the show.

In this episode of the Treasury Career Corner podcast, Kenny Nielsen, Treasurer at Twoday Group, shares his career journey and discusses the role of technology in driving change in the treasury profession.Kenny Nielsen is the Treasurer at Twoday, a full-service technology company specializing in software development, data and business intelligence, AI and automation, consultancy services and tailor-made applications to both the private and public sector.With his expertise in treasury and finance, Kenny provides valuable insights into the evolving role of treasury professionals.He takes us through his career journey, starting from his early finance roles in advertising and his transition to treasury at Maersk. He then shares his experience working in banking before joining Twoday. Kenny discusses the challenges and opportunities he faced in his diverse roles and highlights the importance of being adaptable and open to new experiences. He also emphasizes the increasing role of technology and AI in treasury and the potential impact on treasury management systems.On the podcast we discuss… Kenny's career journey from advertising to treasury and his decision to explore different roles.The size and scope of Maersk's treasury team and the challenges of managing liquidity in a complex organization.Kenny's move to banking Insights gained about the banking industry and its impact on treasury. The importance of being open to new experiences and continuously learning in the treasury profession. The role of AI and technology in driving change in treasury, including examples of innovative solutions developed by Twoday group.You can connect with Kenny Nielsen on LinkedIn. Are you interested in pursuing a career within Treasury?Whether you've recently graduated, or you want to search for new job opportunities to help develop your treasury career, The Treasury Recruitment Company can help you in your search for the perfect job. Find out more here. Or, send us your CV and let us help you in your next career move!If you're enjoying the show please rate and review us on whatever podcast app you listen to us on, for Apple Podcasts click here!Subscribe to the Treasury Career Corner podcast newsletter to receive a link to every week's episode as soon as it's published via clickhere!

Ever wonder how your routine bill payments could influence your credit score? Find out in our latest conversation with Lamine Zarrad, the innovative founder and CEO of StellarFi, a company revolutionizing credit-building. Lamine takes us through his unique journey from his immigrant roots to his experiences in the Marine Corps and the U.S. Treasury, all of which contributed to the inception of StellarFi. Discover how every bill you pay, from your cell phone to your Netflix subscription, can potentially enhance your credit score.Lamine sheds light on why StellarFi's unconventional methods hold an edge over traditional approaches such as secured loans and credit cards. He offers invaluable insights into how various models used by credit bureaus impact your credit score. Wrapping up the conversation, Lamine paints a picture of his career in the FinTech and financial services sector, discussing his work with Tokken and Joust, and how it paved the way for StellarFi's creation. If you're making your first steps in the FinTech or the financial services space, you wouldn't want to miss his invaluable advice!

Rising oil prices and Treasury yields weighed on the major indexes ahead of the Fed's rate decision Wednesday.Important DisclosuresInformation on this site is for general informational purposes only and should not be considered individualized recommendations or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. All expressions of opinion are subject to change without notice in reaction to shifting market, economic and geo-political conditions.Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.All corporate names are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Investing involves risk, including loss of principal.Past performance is no guarantee of future results.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.

At 4.33%, the 10 year treasury yield is just 3 basis points below a new high since 2006. If the yield is the same 15 weeks from now, the treasury's full-year return will be negative for 2023, for a third year in a row, something that has never happened before.The oil price is up 35% since May, but hasn't been accompanied by other commodity prices. We find when oil uptrends are not confirmed by the broader complex, they are not sustainable. 80% of Saudi's production cuts are being offset by increases in other countries. Add to that a peak in oil demand in 2024 as the world transitions to electric vehicles, and we look for oil at $75 a year from now.The S&P's long-run seasonal average shows the best time to be in the market is the end of the year, and this year the S&P has had a remarkably close fit with the average so far this year. The consensus looks for a 0.2% y/y increase in Q3 earnings, but excluding energy, they could be up 5%. We think the current stock market consolidation will be over by mid-October at the latest, and then there should be a rally into year-end.

The Corporate Transparency Act (CTA) was passed in 2019 to address the use of legal entities in money laundering, the financing of terrorism, and other illegal activities. Commencing on its effective date of January 1, 2024, the CTA will require affected legal entities to disclose information about their beneficial owners and controlling parties to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). The CTA is set to impact an estimated 32 million companies, including most commercial real estate entities. In this episode, Russ Robertson and Trevor Tullius join James O'Brien for a discussion on what this means for the industry and why commercial real estate owners should begin preparing now in order to comply with the reporting requirements.

Husband and Wife read from Part III: The Human Comedy —Chapter 1: Droll Characters, from A Treasury of Jewish Folklore.In this episode of the Sacrilegious Book Club, topics include Schlemihls and Schlimazls:Laverne and Shirley; Wayne's World; unlucky bunglers; shrews and henpecked husbands; rabbit stew; and hard cheese.Next time, we will cover some entries from Rogues and Sinners. We hope you'll get a copy of the book and read along with us."Laverne and Shirley opening credits theme song"https://youtu.be/IAnecJl_Z1A?si=EqjTrvGPBOnjUvt_"Cindy Williams and Penny Marshall on the 'Laverne and Shirley' theme song"from Foundation Interviews by the Television AcademyFoundation.https://youtu.be/lJj9cYH7AZg?si=rcWkWmwzh_ZAftlOLaverne and Shirley spoof from Wayne's World.https://youtu.be/sdulIKhCC3Y?si=h2z9HW8bN2kU8LrzJoin us on DISCORD: https://discord.gg/8RwwMrb5zKSkip the ads by joining Acast+ https://plus.acast.com/s/6331d364470c7900137bb57dThank you for stopping by Sacrilegious Discourse - Bible Study for Atheists!Check out these links for more information about our podcast and merchandise:Our Homepage: https://sacrilegiousdiscourse.com/Help support us by subscribing on Patreon: https://www.patreon.com/sacrilegiousdiscourse Join Acast+ to enjoy our podcast adfree! https://plus.acast.com/s/sacrilegiousiscourse. Hosted on Acast. See acast.com/privacy for more information.

Alexander Turney Stewart is known as the creator of the department store. He make a fortune in business, but the most interesting parts of his life story come at the end – including after he died.  Research: “Act of Congress Establishing the Treasury Department.” U.S. Department of the Treasury. https://home.treasury.gov/history/act-of-congress-establishing-the-treasury-department “A.T. Stewart's Body.” New York Daily News. Aug. 17, 1879. https://www.newspapers.com/image/329793880/?terms=%22Alexander%20T.%20Stewart%22&match=1 “Alexander T. Stewart.” New York Times. April 11, 1876. https://timesmachine.nytimes.com/timesmachine/1876/04/11/80328682.pdf?pdf_redirect=true&ip=0 Asbury, Herbert. “The Gangs of New York.” Wisehouse Classics. 2023 edition. Britannica, The Editors of Encyclopaedia. "Alexander Turney Stewart". Encyclopedia Britannica, 6 Apr. 2023, https://www.britannica.com/biography/Alexander-Turney-Stewart Brockett, L. P. “Men of our day; or, Biographical sketches of patriots, orators, statesmen, generals, reformers, financiers and merch, including ants, now on the stage of action: including Those who in military, political, business, and social life are the prominent leaders of the time in this country.” Ziegler & McCurdy. Philadelphia. 1872. DeRiggi, Mildred Murphy. “Alexander Turney Stewart.” Irish Lives in America. Royal Irish Academy. 2021. “The Decision in the Stewart Will Case.” The Brooklyn Daily Eagle. Dec. 28, 1878. https://www.newspapers.com/image/50424282/?terms=%22Alexander%20T.%20Stewart%22&match=1 Fischler, Marcelle S. “An Immigrant's Vision Created Garden City.” New York Times. Nov. 15, 1998. https://www.nytimes.com/1998/11/15/nyregion/an-immigrant-s-vision-created-garden-city.html Hubbard, Elbert. “Little Journeys to the Homes of Great Businessmen, Volume 11.” New York. 1916. Accessed online: https://www.gutenberg.org/files/23595/23595-h/23595-h.htm#A_T_STEWART Lenoir, Andrew. “The Nearly Solved Mystery Behind the Missing Corpse of One of the Richest Men Ever.” Atlas Obscura. Oct. 27, 2016. https://www.atlasobscura.com/articles/the-nearlysolved-mystery-behind-the-missing-corpse-of-one-of-the-richest-men-ever Resseguie, Harry E. “FEDERAL CONFLICT OF INTEREST: THE A. T. STEWART CASE: A Century-Old Episode With Current Implications.” New York History, vol. 47, no. 3, 1966, pp. 271–301. JSTOR, http://www.jstor.org/stable/23162709 Resseguie, Harry E. “Alexander Turney Stewart and the Development of the Department Store, 1823-1876.” The Business History Review, vol. 39, no. 3, 1965, pp. 301–22. JSTOR, https://doi.org/10.2307/3112143 “The Stewart Will Suit.” Boston Globe. June 26, 1878. https://www.newspapers.com/image/428231391/?terms=%22Alexander%20T.%20Stewart%22&match=1 “Stewart's Body Sought.” New York Times. August 21, 1881. https://timesmachine.nytimes.com/timesmachine/1881/08/21/102756034.pdf?pdf_redirect=true&ip=0 Walling, George Washington. “Recollections of a New York Chief of Police.” Caxton Book Concern. New York. 1887. (Kindle edition) See omnystudio.com/listener for privacy information.

  Clement speaks to the Minister of Social Development, Lindiwe Zulu about funds returned by the department to the National Treasury in the past financial year.  Zulu says the R4bn returned did not prejudice social grant recipients.See omnystudio.com/listener for privacy information.

**If you'd like to discuss this episode with friends and comrades, join our Macro ‘n Chill listening party on Tuesday evening at 8 ET/5 PT. For the Zoom registration link, go to realprogressives.org/rp-events-calendar/Understanding how monetary sovereign governments create and spend money means looking at the Treasury department and the central bank or, in the US, the Federal Reserve.Economist Eric Tymoigne explains two approaches to understanding the relationship: the consolidated and the collaborative, or cooperative, version of the Treasury and the Fed.The consolidated approach merges the Fed and the Treasury into one entity and analyzes the implications of this merger on public finance. It emphasizes that taxes and government securities don't fund the government, but rather, the government spends by crediting accounts. (This comes as no surprise to MMTers.)The consolidated approach also highlights the importance of injecting reserves into the economy before taxes can be collected or government securities can be sold. The coordinated approach recognizes the separate roles of the Treasury and the Fed but emphasizes the extensive coordination between the two entities.Eric walks us through these operations and touches on the relationship with private banking and the role of reserves on the international stage.Listening to this episode, you can't help but conclude that the ways in which the US manages monetary operations are not consistent with budgetary needs. It's hard to see how it has anything to do with provisioning our society.Eric Tymoigne is an Associate Professor of Economics at Lewis & Clark College, Portland, Oregon, and Research Associate at the Levy Economics Institute of Bard College.@tymoignee on Twitter