R. Christopher WhalenNov 28, 20226 minIs JPMorgan Chase Insolvent?The US banking industry has been rendered insolvent by the Federal Open Market Committee
R. Christopher WhalenNov 17, 20227 minExtension Risk Threatens US BanksThere are literally dozens of banks in the US made insolvent by the policy moves of the FOMC over the past year.
R. Christopher WhalenNov 2, 20226 minTerminal Rates & Conflicted EconomistsThe cult of ever falling interest rates goes back 50 years and spans the terms of Fed chairs back to Alan Greenspan and Paul Volcker...
R. Christopher WhalenOct 24, 20223 minAOCI: The Winter of Quantitative EasingLittle attention is being paid to the collateral damage being done by the FOMC to the debt capital markets
R. Christopher WhalenSep 18, 20229 minInflation, Politics & Fed ChairmenAs the scale of Fed open market operations grew since 2008, volatility has increased, rendering the adjustment from QE to QT problematic
R. Christopher WhalenJul 31, 20228 minShort Collateral & Long TantrumsDemand for risk-free collateral and liquidity is largely a function of how JPMorgan (JPM) CEO Jamie Dimon feels about risk on any given day
R. Christopher WhalenJul 24, 20226 minQuestions for Chairman PowellQE has created a gigantic interest rate mismatch across markets for banks, non-banks and other financial intermediaries including the GSEs
R. Christopher WhalenMay 25, 20229 minFOMC vs TGA; PennyMac Financial & United Wholesale MortgageNet, net, the dynamics in the market are actually forcing interest rates down