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Most recent posts

  • October 8, 2013

    posted to PrefBlog on Tue 8th Oct 13

    Geez, maybe I should open a managed future fund:Brokers have an incentive to keep clients in managed-futures funds because they receive commissions annually of up to 4 percent of assets invested, prospectuses show. Investors pay as much as 9 percent in total

  • October 7, 2013

    posted to PrefBlog on Tue 8th Oct 13

    Lawrence Schembri, Deputy Governor of the Bank of Canada is assiduously sucking up to the politicians:From my perspective, the FSB is a unique international organization that has certain qualities that many associate with Canadians, qualities I believe will

  • MAPF Performance, September 2013

    posted to PrefBlog on Mon 7th Oct 13

    The fund outperformed in September, due to its low weighting in junk FixedResets, which underperformed (as indicated by the performance difference between TXPR (+0.48%) and TXPL (-0.10%)).There was a modest recovery in the Canadian preferred share market in

Most popular posts

  • Effective Fed Funds Rate: A Technical Explanation?

    posted to PrefBlog on Thu 29th Jan 09

    Assiduous Readers will remember the puzzle of the Effective Fed Funds Rate. Fed Funds were trading at 0.25% at a time when excess balances were earning 1.00% from the Fed, which appears to allow a risk-free arbitrage.A recent Fed Press Release and its attachment

  • March 17, 2008

    posted to PrefBlog on Tue 18th Mar 08

    The big news today is the JPMorgan takeover of Bear Stearns, which has been the subject of so much commentary I’ll keep mine to a minimum. The interesting part is that the Fed is taking a first-loss position on the mortgage paper:The steps were announced

  • March 12, 2008

    posted to PrefBlog on Thu 13th Mar 08

    Econbrowser’s James Hamilton has an interesting philosophical piece on the limits to the Fed’s ability to influence the economy, Asking too much of monetary policy:I am certainly a believer in the potential real effects, sometimes for good, sometimes

Latest posts linking here

  • A funny thing happened on the way to the federal funds market

    posted to macroblog on Fri 3rd Jul 09

    Since the beginning of this year, the effective funds rate in the market for reserve balances has varied between zero and about 15 basis points below the interest rate the Federal Reserve pays on those reserve balances (see chart below, which runs through July

  • Not a bailout

    posted to Econbrowser on Tue 18th Mar 08

    How shall we describe what happened this weekend with Bear Stearns? The first big casualty of the credit crisis, yes. Bailout, no.Bear Stearns was an investment bank that made trades and created markets for a broad range of securities, including extensive use

  • TSLF

    posted to Econbrowser on Sat 15th Mar 08

    Last week the Fed announced yet another new measure to deal with the ongoing problems in credit markets in the form of a just-created Term Securities Lending Facility, which we're apparently invited to refer to affectionately as a TSLF.Hear the word of the