The Institutional Risk Analyst

Banks face a market in 2H 2026 where inflation is going to rise and prices for on-the run securities will likely fall. But the wall of money that has been manipulating individual technology stocks with impunity for months is going to go somewhere. In a world where the US Treasury is actively manipulating ST interest rates and arguably selling volatility, where do you hide?

As a practical matter, no Fed chairman or governor can function without the support of the White House and the US Treasury.

Large universal banks that ply the capital markets and use essentially infinite leverage in the derivatives markets face challenges

Ralph Delguidice: Are Leveraged Loans a Problem?