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treasury department headquarters. i are taking a job with uh, one of the component agencies which in treasury the financial management service. uh nobody's heard of them. they process trillions of dollars of government payments every year. and that's a pretty big project that i was starting to work on. but i was labeled as a whistleblower. in fact, my new supervisor was quite angry at me, but he got a job somewhere else in the left. so i was able to just to work and to do my job. but a point came where i actually gave a press conference, where i said that it looked to me as the white house was involved in the flood launch decision. uh, well, uh. as i was told later, the white house contracted the treasury department and told them to fire me. uh, and of course that would have been a personal disaster. uh but the head of our agency. uh username. was there any douglas? and he was an old, hard bitten career treasury guy, a burning actually told the net a treasury headquarters. no, i'm not gonna fire this guy. he's done no
treasury department headquarters. i are taking a job with uh, one of the component agencies which in treasury the financial management service. uh nobody's heard of them. they process trillions of dollars of government payments every year. and that's a pretty big project that i was starting to work on. but i was labeled as a whistleblower. in fact, my new supervisor was quite angry at me, but he got a job somewhere else in the left. so i was able to just to work and to do my job. but a point...
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Nov 22, 2023
11/23
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the treasury department and the cftc are taking against binance. while criminal and civil enforcement actions are subject to different legal standards, this collective effort represents the whole of government approach that we are taking to combat corporate crime. binance has agreed to plead guilty to willfully violating the bank secrecy act, knowingly failing to register as a money transmitting business, willfully violating the economic powers act. these laws ensure that our financial institutions are not available to designated terrorist organizations, traffickers, and sanctioned nationstates that threaten public safety and national security. the justice department is requiring binance to pay 4.3 billion dollars in penalties and forfeitures. this is one of the largest penalties we have ever obtained from a corporate defendant in a criminal matter. the justice department is also imposing a monitor as well as reporting requirements on binance as part of today's resolution. binance must file the suspicious activity reports that were required by law.
the treasury department and the cftc are taking against binance. while criminal and civil enforcement actions are subject to different legal standards, this collective effort represents the whole of government approach that we are taking to combat corporate crime. binance has agreed to plead guilty to willfully violating the bank secrecy act, knowingly failing to register as a money transmitting business, willfully violating the economic powers act. these laws ensure that our financial...
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Nov 9, 2023
11/23
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potentially impacts the liquidity of treasury markets.nt to say this is a nightmare, but it is certainly a bad dream. these are things people are concerned about when it comes to liquid market, particularly such a critical one to all credit markets in the world. jon: absolutely. on a day when we are already seeing action in the treasury market. we will have to watch this closely. we will continue to track some of those headlines. when we come back, traders watching the headlines with fed speak. we are awaiting comments from jay powell this afternoon as other fed officials suggest financial conditions -- not at the end of tightening. we will explore deeper. this is bloomberg. ♪ ♪ (captivating music) ♪ (♪♪) (♪♪) (♪♪) (♪♪) (♪♪) the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a par
potentially impacts the liquidity of treasury markets.nt to say this is a nightmare, but it is certainly a bad dream. these are things people are concerned about when it comes to liquid market, particularly such a critical one to all credit markets in the world. jon: absolutely. on a day when we are already seeing action in the treasury market. we will have to watch this closely. we will continue to track some of those headlines. when we come back, traders watching the headlines with fed speak....
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Nov 1, 2023
11/23
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heidi: between treasury and the fed and who will take the bigger headline, it is likely to be the treasury refunding announcement. there is a lot of speculation of where those funding costs will start to really hurt and where the concerns about the deficit which we also know is rising and is $2 trillion the new normal. how does that impact the ability to borrow in the short, medium and long-term? there will be a lot of attention on the refunding statement as well. lisa: how does this challenge the u.s. ability to respond to international issues? this question around the geopolitical risk, the human tragedy, the question of how boundaries and territories will be redrawn and a real question in your view about how much the u.s. is willing and able to finance all of its endeavors. how much is the treasury's actions going to directly influence how much the u.s. is willing to go further into israel, into ukraine? heidi: we are in a world where geopolitics and politics and national security in particular trumps a lot of traditional economic and commercial rationale. when you are looking at partic
heidi: between treasury and the fed and who will take the bigger headline, it is likely to be the treasury refunding announcement. there is a lot of speculation of where those funding costs will start to really hurt and where the concerns about the deficit which we also know is rising and is $2 trillion the new normal. how does that impact the ability to borrow in the short, medium and long-term? there will be a lot of attention on the refunding statement as well. lisa: how does this challenge...
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Nov 21, 2023
11/23
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reporter: i had a question both for the doj and the treasury. when it comes to the enforcement priorities and crypto that the doj has had, there was a big focus on digital platforms that create crimes or let them happen. we have seen the doj bring big cases against binance, ftx. treasury separately has increasingly taken actions against crypto players when it comes to money laundering or sanctions violations. they have not taken these actions in the market so far. what are your actions now for the doj and treasury going forward when it comes to crypto? are you thinking of deploying different types of strategies, especially since we are seeing growing national security concerns beyond, say, a financial stability concern when it comes to these crypto platforms. ag garland: i am going to let the deputy begin the answer for the justice department. dep. ag monaco: thank you very much for the question. first thing i would say is, these are incredibly complicated and resource-intensive and time-consuming cases. and so we need the resources and we are w
reporter: i had a question both for the doj and the treasury. when it comes to the enforcement priorities and crypto that the doj has had, there was a big focus on digital platforms that create crimes or let them happen. we have seen the doj bring big cases against binance, ftx. treasury separately has increasingly taken actions against crypto players when it comes to money laundering or sanctions violations. they have not taken these actions in the market so far. what are your actions now for...
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Nov 1, 2023
11/23
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the treasury.e new york post? i can't get my head around that. here to talk more about all this, stanley druckenmiller, chairman and ceo of duquesne family office. we just said you're like in bonds and welcome, thank you for joining us in studio. i like the way you think about bonds. if we were inverted, and we were at 100 basis points and the normal thing is the opposite way, 100 basis points, that's what you're going at, isn't it? >> i'm kind of disappointed, maybe it is my fault, that that statement has sort of taken over the more important arrative. >> we're going to get to that. but we introed you with that. >> it was just a small piece of a litany of stuff that is going on for 13 years. but, i would rather -- i would rather get it in the sequence. >> okay. we'll do it in sequence. we eleintroed that you like bon. >> i know the media loves one sentence stuff. and maybe it was the most radioactive thing i said that day, but it is definitely was just one piece of a big puzzle. >> most radioactiv
the treasury.e new york post? i can't get my head around that. here to talk more about all this, stanley druckenmiller, chairman and ceo of duquesne family office. we just said you're like in bonds and welcome, thank you for joining us in studio. i like the way you think about bonds. if we were inverted, and we were at 100 basis points and the normal thing is the opposite way, 100 basis points, that's what you're going at, isn't it? >> i'm kind of disappointed, maybe it is my fault, that...
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Nov 1, 2023
11/23
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no one at the treasury seemed to care. told me i didn't understand the bond market even though i have traded bonds since 1982. that ship has sailed. to stop the huge climb, the treasury has to go out and find buyers or kick the candown the road by issuing shorter term paper. enter josh frost, savior of the bond market who gave the long end of the curb a reprieve by commuting the death sentence. he said sure there is powell out there calling shots on the short end, but the 30 year buck starts here at the door of josh. with this quarterly refining statement of assistant secretary josh frost, he took treasury out of the equation for longterm interest rates. he spared us from the government's propagated spending on the long end. josh, i wish i knew you when i walked regularly by the wendy's or perhaps the dunkin' donuts at the corner. i would have tipped my cap and maybe bought you a cup of joe and certainly thank you for your public service. mad money is back after the break. >>> coming up, grab a bowl of fast casual's future
no one at the treasury seemed to care. told me i didn't understand the bond market even though i have traded bonds since 1982. that ship has sailed. to stop the huge climb, the treasury has to go out and find buyers or kick the candown the road by issuing shorter term paper. enter josh frost, savior of the bond market who gave the long end of the curb a reprieve by commuting the death sentence. he said sure there is powell out there calling shots on the short end, but the 30 year buck starts...
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Nov 1, 2023
11/23
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treasury yields over the past several months.te unexpected, quite painful for a lot of the rest of the world. if that is finally done and people are starting to see that, maybe there is room for overall dollar weakness. may be on a basket is the way to think about it. refunding announcement pretty exciting as well. the consensus is for something art 114 billion spread across, which would be a record amount, up from only 103 billion last time around. so on awful lot of supply for the markets to be taken down. there is this sense may be that they are still going to weigh on the back end of the treasury yield curve. so pushing up those longer-term interest rates, putting more pressure on the fed by tightening policy which makes you think in terms of what the fed is actually going to do with its monetary policy. may be it is getting to the point where it is already done. kriti: i cannot believe you called the quarterly refunding announcement exciting. that's how you know you're a sure macro kind of get. let's talk about -- that's how
treasury yields over the past several months.te unexpected, quite painful for a lot of the rest of the world. if that is finally done and people are starting to see that, maybe there is room for overall dollar weakness. may be on a basket is the way to think about it. refunding announcement pretty exciting as well. the consensus is for something art 114 billion spread across, which would be a record amount, up from only 103 billion last time around. so on awful lot of supply for the markets to...
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Nov 1, 2023
11/23
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on this day will we have the treasury refunding announcement, so much going on. have not really seen it move the needle too much. the s&p 500 up. it is the third day in a row for the green on the screen. a percent or 9% up from the beginning of the year. the further out the curve, i think you see more movement and terms of a reduction in yields, growth in price. the 10-year gilts. -- the 10 year yield. we see nymex crude gaining about $.65 to 81.68. it is all about treasuries. that makes sense on that day we got the refunding announcement. bank of america address the concerns about supply. >> you should not fear the physical system because the economy will still be robust. there will be buyers, just a matter of what level will they stepped in. we have had a lack of buying recently but that has meant the yields have had to adjust and that should incentivize more to think about owning bonds. matt: let's bring in torsten slok. thank you for coming on the show. i first want to get your take on the refunding and the amount of deficit and debt we have, what does it loo
on this day will we have the treasury refunding announcement, so much going on. have not really seen it move the needle too much. the s&p 500 up. it is the third day in a row for the green on the screen. a percent or 9% up from the beginning of the year. the further out the curve, i think you see more movement and terms of a reduction in yields, growth in price. the 10-year gilts. -- the 10 year yield. we see nymex crude gaining about $.65 to 81.68. it is all about treasuries. that makes...
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larry: senator cruz you can't do this, this is inflationary treasury, who, the treasury will sell 1.$6rillion of bonds in the next six months, 11% of gdp! who will buy this stuff? >> look i think the president's supplemental proposal is doa, it is dead on arrival. no chance the republican house will pass it. i think the right thing to do is what the house has done break the israel military funding off separately. there is a bigby partisan majority in both houses to provide military aid to israel and to stand with them unequivocally as they face this horrific war. if we take up israel aid on its own it will pass with massive bipartisan majorities. beyond that what the biden white house is trying to do is take israel aid and hold it hostage for all of their other partisan priorities. that is cynical and it's wrong. once we pass israel military aid, then we ought to sit down and negotiate, okay, on ukraine there is a difference of opinion. let's negotiate what is needed. larry: yeah. >> i think if there is going to be a deal it is going to be a deal for some military funding for ukraine i
larry: senator cruz you can't do this, this is inflationary treasury, who, the treasury will sell 1.$6rillion of bonds in the next six months, 11% of gdp! who will buy this stuff? >> look i think the president's supplemental proposal is doa, it is dead on arrival. no chance the republican house will pass it. i think the right thing to do is what the house has done break the israel military funding off separately. there is a bigby partisan majority in both houses to provide military aid to...
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Nov 28, 2023
11/23
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department of treasury. we are goingo discuss the treasury's work on climate change in american household finances. prior to his roles assistant secretary he served as director of the corporaons and society initiatives at stanford graduate school of business. thats a research initiative that examinesssues at the heart of market, business, governnt. promote more capitalism and governance. we are pleased to have him here with us today. please join me and a welcoming assistant secretary. [applause] >> great to haveou. thank you for coming. >>hank you thanks to urban. >> we often talk about clima in a variety of different contexts. and today you released a report the treasury released a report the impact of climate change on american household finances. it is such an important intersecon here of these two. can you give us some background on the framework you used in the report and why you chose that framework? >> short. i think we all know we are seeing today up in new york in particular the event of a wild fire
department of treasury. we are goingo discuss the treasury's work on climate change in american household finances. prior to his roles assistant secretary he served as director of the corporaons and society initiatives at stanford graduate school of business. thats a research initiative that examinesssues at the heart of market, business, governnt. promote more capitalism and governance. we are pleased to have him here with us today. please join me and a welcoming assistant secretary....
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treasury is actually predicting a minuscule 1% for the whole year, that is not much. meanwhile i would say with a topsy-turvy yield curve where short rates higher than long rates over year there is a 65% probability of recession. my hunch, middle-class folks are sniffing this out and that's why the giving bidenomics the lowest grades of any president in recent memory. just saying. with great pleasure joining us mr. ted cruz, senator ted cruz in the great state of texas. let's dive in and have some fun. i don't know if it's exactly fun. the proposal for new sanctions on hamas and iran. i am all for it. i want to cut right to the chase. my view, hamas doesn't really have any money, iran has all the money, iran is the puppeteer in the financier. you say and this warms my heart because people have to, and save us very directly. you want to say you want to prevent iran from accessing and raising revenues, no unfreezing of overseas accounts including the $6 billion and the $10 billion. then you say you have the bill imposes sanctions on iran's ghostly of oil tankers which i
treasury is actually predicting a minuscule 1% for the whole year, that is not much. meanwhile i would say with a topsy-turvy yield curve where short rates higher than long rates over year there is a 65% probability of recession. my hunch, middle-class folks are sniffing this out and that's why the giving bidenomics the lowest grades of any president in recent memory. just saying. with great pleasure joining us mr. ted cruz, senator ted cruz in the great state of texas. let's dive in and have...
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Nov 6, 2023
11/23
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because _ treasury. i'm going tojump in, i do apologise. because the _ treasury.ise. because the inquiry - treasury. i'm going tojump in, i do apologise. because the inquiry is i apologise. because the inquiry is about to restart and the gentlemen, i think that is, being sworn in as doctor ben warner. let's listen into that. ., , ., , doctor ben warner. let's listen into that. ., , that. could you give us your full name, please? _ that. could you give us your full name, please? ben— that. could you give us your full name, please? ben warner. - that. could you give us your full| name, please? ben warner. you that. could you give us your full- name, please? ben warner. you have kindl a name, please? ben warner. you have kindly a statement _ name, please? ben warner. you have kindly a statement at _ name, please? ben warner. you have kindly a statement at our _ name, please? ben warner. you have kindly a statement at our request - kindly a statement at our request which is up on screen and it runs to some 80 or so pages. i know that you've read it through before you
because _ treasury. i'm going tojump in, i do apologise. because the _ treasury.ise. because the inquiry - treasury. i'm going tojump in, i do apologise. because the inquiry is i apologise. because the inquiry is about to restart and the gentlemen, i think that is, being sworn in as doctor ben warner. let's listen into that. ., , ., , doctor ben warner. let's listen into that. ., , that. could you give us your full name, please? _ that. could you give us your full name, please? ben— that....
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Nov 3, 2023
11/23
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sonali: if x the question, when you see treasuries -- it begs the question, when you see treasuries howhey are, how safe is safe? even in the investment-grade landscape, how discerning do you have to be? matt: we think the base yield is quite attractive in that interest rates on corporate debt can contract because of the dislocation of treasury yields higher. so that looks very sound. you are at a 1.2 5% spread and the demand in the long end of the curve from pensions looking to lockup liabilities is strong. from an individual investor standpoint, you can bias toward the middle of the curve and credit curve and get quite a lot of income, but we don't see an imbalance in the corporate earnings space on the ig side that will create a downside. i think eugene is right. higher rates, we have been insulated from the general economy but we are not inoculated against higher rates and the low end could begin to see some headwinds but i don't expect it to be broad-based in the investment-grade space. sonali: when youth about where spreads are today, do you see an entry point at which you would s
sonali: if x the question, when you see treasuries -- it begs the question, when you see treasuries howhey are, how safe is safe? even in the investment-grade landscape, how discerning do you have to be? matt: we think the base yield is quite attractive in that interest rates on corporate debt can contract because of the dislocation of treasury yields higher. so that looks very sound. you are at a 1.2 5% spread and the demand in the long end of the curve from pensions looking to lockup...
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Nov 17, 2023
11/23
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asia stocks benchmark slipping while treasury yield holds decline. more u.s. data backs the peak rates play. oil trading and bear territory around four-month lows right now. we speak exclusively to stanchart ceo bill winters for his idea on rates and inflation's and what came out of the summit. rishaad: looking down our story, nikkei is leaking out again at half an hour before its lunch break. we are seeing some of this pressure coming out about economic angst. grow thanks as mliv would put it. alibaba would come back and a second. already weighing on the mood. i can also tell you that we don't see will you boost where they should be. a warm up that's giving us a bit of a sideswipe after getting a cautious consumer outlook. all of this is going alongside weaker economic backdrop. jobless claims also weighing on the u.s. economy. those fears are being felt here as well. yvonne: that's why you see yields are being held lower. the dollar holding that drop we saw overnight, just giving their bad move we saw for the markets. maybe not good news when it comes to equ
asia stocks benchmark slipping while treasury yield holds decline. more u.s. data backs the peak rates play. oil trading and bear territory around four-month lows right now. we speak exclusively to stanchart ceo bill winters for his idea on rates and inflation's and what came out of the summit. rishaad: looking down our story, nikkei is leaking out again at half an hour before its lunch break. we are seeing some of this pressure coming out about economic angst. grow thanks as mliv would put it....
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Nov 10, 2023
11/23
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this had major implications for the treasury markets. how concerning is this?concerning. we saw the fallout in real-time. we saw buyers coming in more willfully at the front end of the curve but when you start to draw out duration, you have a bigger problem generally. so a hack that would impact such a critical part of the plumbing of not just the treasury market but new issue of treasury here, you have a big problem particularly for a player in the market that is intimately involved in re-purchase agreements. it is a critical player when you think about the leverage provided to the system and icbc in the treasury market over the last five or six years has become much larger. guy: can you talk about what has gone on over the last 24 hours? i am reading stories of writers going around banks with thumb drives and plugging them into the usb ports of the banks to try to figure out how to settle some of this stuff. is that the fix that we had to come up with? sonali: it is the band-aid. the way i think about these electronic systems, we have had a very fast electron
this had major implications for the treasury markets. how concerning is this?concerning. we saw the fallout in real-time. we saw buyers coming in more willfully at the front end of the curve but when you start to draw out duration, you have a bigger problem generally. so a hack that would impact such a critical part of the plumbing of not just the treasury market but new issue of treasury here, you have a big problem particularly for a player in the market that is intimately involved in...
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Nov 13, 2023
11/23
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a lot of asset managers buy or short treasuries through the treasuries market because of the margin required of the asset class would mean there is more margin required to be posted for the futures contracts in particular. in the context of the basis trade, where you have asset managers buying the spot and shorting the futures, looking to profit from the difference as they converge, lever that trade up with more treasuries, leveraged from repo markets, all of this could make that process more expensive and create risks of whip sawing what is currently a massive trade, use hedge funds to buy treasuries upfront. when you see the supply issues at the market, problems like this exacerbate problems like that. you are seeing the cyclical issue come to the surface at a time when you have many traders worried about next year will get worse, not just because of these downgrades, but because of these exacerbated fiscal conditions you see in the u.s. as well as the other idea that bank balance sheets are shrinking and facing more regulation. dani: what you are talking about is specifically hitting the
a lot of asset managers buy or short treasuries through the treasuries market because of the margin required of the asset class would mean there is more margin required to be posted for the futures contracts in particular. in the context of the basis trade, where you have asset managers buying the spot and shorting the futures, looking to profit from the difference as they converge, lever that trade up with more treasuries, leveraged from repo markets, all of this could make that process more...
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Nov 3, 2023
11/23
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secretary of treasury to our stage. secretary yellen is a world-renowned economist, a widely cited academic, a public servant and the inspirational leader but i also hear she's great to work for and work with. as the only person in history to have the treasury department, the federal reserve board and the council of economic advisers she has been a pioneer in her professional accomplishments in pursuits. and she heads the department at a time when treasury's role could not be more important to domestic and international challenges. today we are fortunate she's going to share her insights and vision on the biden administration's economic strategy in the indo pacific region the fastest growing and most dynamic region in the world. the treasury department in particular played a key role in developing and implementing the biden administration's economic agenda in this vital region. she and her colleagues have heard the voices through the region that have pressed the united states to augment our security presence with the ro
secretary of treasury to our stage. secretary yellen is a world-renowned economist, a widely cited academic, a public servant and the inspirational leader but i also hear she's great to work for and work with. as the only person in history to have the treasury department, the federal reserve board and the council of economic advisers she has been a pioneer in her professional accomplishments in pursuits. and she heads the department at a time when treasury's role could not be more important to...
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Nov 1, 2023
11/23
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is treasury's repricing for a stronger economy. a supply issue. that raises the question for jay powell, does this mean significantly higher for longer. not necessarily higher but significantly longer. alix: does the move take heat off? if we are all across the curve pan taking around five that's a different scenario. nonetheless it takes a little heat off. michael: in the sense of raising rates because jamie dimon famously said last week another 25 basis points doesn't make a square worth of difference. in terms of the length of time they have to leave rates up. it raises a question because of the terminal rate is higher than they may be slower to move down unless there is a recession. if the terminal rate, the economy is stronger than maybe they have to keep the pressure on a lot longer. that's going to be the issue when you look at growth and wages and spending the economy is definitely stronger than the fed fought -- fed thought. guy: isn't the labor market really in control of this. isn't that the ultimate deciding factor. all
is treasury's repricing for a stronger economy. a supply issue. that raises the question for jay powell, does this mean significantly higher for longer. not necessarily higher but significantly longer. alix: does the move take heat off? if we are all across the curve pan taking around five that's a different scenario. nonetheless it takes a little heat off. michael: in the sense of raising rates because jamie dimon famously said last week another 25 basis points doesn't make a square worth of...
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Nov 25, 2023
11/23
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i was on treasury back in 1980 is in the speaker's office. i worked on the debt limit from most of the key advantage points. something change in 2011. it went from being moment to negotiate or some must've passed bill is an opportunity. it changed because there was a group who has now grown that is willing to contemplate default. in 2011 i thought we were doing the right thing by negotiating an agreement on appropriation bills in the spring. were doing the right thing by was a good faith negotiation we could have a separate conversation about why it failed. but when it failed we were at the edge of a cliff. we only barely escaped default by putting together a terrible piece of legislation the budget control act. after that it became clear if the budget control act was the end of it this time there may not be a solution next time. you could do -- i cannot do something much worse and have confidence it would work. without any real disagreement internally you cannot negotiate over existenial crisis like a debt limit. it came out quite naturally
i was on treasury back in 1980 is in the speaker's office. i worked on the debt limit from most of the key advantage points. something change in 2011. it went from being moment to negotiate or some must've passed bill is an opportunity. it changed because there was a group who has now grown that is willing to contemplate default. in 2011 i thought we were doing the right thing by negotiating an agreement on appropriation bills in the spring. were doing the right thing by was a good faith...
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Nov 6, 2023
11/23
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coming up, the treasury market.re was to diddle's founder is -- citadel you want to look at their prime businesses of the bank. we will talk about next. this is "bloomberg." ♪ get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management. alix: we take a look at wall street and banking and finance. today the conversation is around the treasury bases trade, which we all love talking about. ken griffin has a lot to say on it. sonali, said, talk to the banks, talk to those guys, don't look at us. >> on one hand, ken griffin, citadel, the hedge fund and security's, which is an intermediary. they're very involved in the bases trade from all angles, if you will. the interesting thing is he said the sec is s
coming up, the treasury market.re was to diddle's founder is -- citadel you want to look at their prime businesses of the bank. we will talk about next. this is "bloomberg." ♪ get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the...
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Nov 10, 2023
11/23
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we've not seen an impact on the treasury department. this is something i discussed with the vice premiere of why we need close communications in situations where it's critical to be able to phone and know that you'll have someone on the other end, and we can convince one another to work together and cooperate. and we've given treasury and the united states as much assistance as we can to the firm in regard to this. >> this wilt be the last question. this will be the last question. reporter: can you elaborate the concerns china has as a major u.s. debt holder about it. sec. yellen: the u.s. fiscal outlook was a topic that we discussed, and what i've expressed is the importance that president biden and i attach to making sure that the united states is on a sustainable fiscal path and that in a rising interest rate environment. and i pointed out we just reached an agreement for $1 trillion of debt reduction over 10 years and with proposals for an additional $1.5 trillion of deficit reduction over the next decade. and what would enable us t
we've not seen an impact on the treasury department. this is something i discussed with the vice premiere of why we need close communications in situations where it's critical to be able to phone and know that you'll have someone on the other end, and we can convince one another to work together and cooperate. and we've given treasury and the united states as much assistance as we can to the firm in regard to this. >> this wilt be the last question. this will be the last question....
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the biden treasury has said that fourth quarter will grow by less than 1%. and for all of next year, the treasury is actually predicting a minuscule 1%. for the whole year, that is not much. i would say, with topsy-turvy yield curve there is 65 percent probability of recession. my hunch should middle class folks are sniffing this out, that is why they are giving bidenomics, the lowist grades of any president in recent memory. okay? just saying. now. joining us now, mr. senator ted cruz from great say the of state the texas, let's have fun here, i don't know that it is fun. you have a proposal for new sanctions on hamas and iran. senator, i'm all for it i just want to cut right to the chase, because, my view is, hamas does not have any money iran has the money, iran is the puppeteer and financier. you say and this warms my heart, because people have to say this, you say first of all you want to prevent iran from accessing and raising revenues. no unfreezing of overseas accounts, including 6 billion dollars and 10 billion, then you say, this is where i want to
the biden treasury has said that fourth quarter will grow by less than 1%. and for all of next year, the treasury is actually predicting a minuscule 1%. for the whole year, that is not much. i would say, with topsy-turvy yield curve there is 65 percent probability of recession. my hunch should middle class folks are sniffing this out, that is why they are giving bidenomics, the lowist grades of any president in recent memory. okay? just saying. now. joining us now, mr. senator ted cruz from...
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Nov 30, 2023
11/23
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BBCNEWS
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so, you protected the _ the treasury, but whilst you did so, you protected the treasury - the treasury_ of this scheme and you expressed thanks, gratitude that _ of this scheme and you expressed thanks, gratitude that it - of this scheme and you expressed thanks, gratitude that it had - of this scheme and you expressed thanks, gratitude that it had not i thanks, gratitude that it had not come _ thanks, gratitude that it had not come to— thanks, gratitude that it had not come to light _ thanks, gratitude that it had not come to light-— come to light. that is because i abide by collective _ come to light. that is because i i abide by collective responsibility. and i was being encouraged by various journalists who would presume that i was against it to criticise the then chancellor. but i believe that government is a team effort and so i didn't want that to become a row in public. i mean, you can see during the pandemic the corrosive effect of lea ks. can see during the pandemic the corrosive effect of leaks. and i was not part of that and i don't appreciate government by leak. hence i ab
so, you protected the _ the treasury, but whilst you did so, you protected the treasury - the treasury_ of this scheme and you expressed thanks, gratitude that _ of this scheme and you expressed thanks, gratitude that it - of this scheme and you expressed thanks, gratitude that it had - of this scheme and you expressed thanks, gratitude that it had not i thanks, gratitude that it had not come _ thanks, gratitude that it had not come to— thanks, gratitude that it had not come to light _...
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Nov 29, 2023
11/23
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do youee a place f the treasury to explore supposedly central banks? why does it have to be a central bank digital currency versus a treasury or government-backed digital currency? mr. chopra: i actually find the entire cbdc conversation very confusing because it does not divide out the key design elements. so what part is issuing it? what is the technological specifications when it comes to privacy and tracking? when you think about it physical coin, there's no serial number on it. there's many things we could think about. but at the same time i would argue, aaron, that there's all sorts of reasons to pursue and not to pursue. those are heavily related to wholesale, commercial,arger national competitiveness issues. if we care a lot about retail payments, let's fire out what are the things most important to us. i would argue we have already mentioned safety, speed, funds availability. we actually have lots of tools to address those both in the current system and beyond. for example, hncc, it's a place the federal reserve board and the cfpb have some au
do youee a place f the treasury to explore supposedly central banks? why does it have to be a central bank digital currency versus a treasury or government-backed digital currency? mr. chopra: i actually find the entire cbdc conversation very confusing because it does not divide out the key design elements. so what part is issuing it? what is the technological specifications when it comes to privacy and tracking? when you think about it physical coin, there's no serial number on it. there's...
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Nov 6, 2023
11/23
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he was referring to the treasury there and referring to the treasury there and referring to the treasury restrictions and have a second lock down here in the uk. now, i think it reflects a document that was going on at the time, but, as i say, some of what was put to the witnesses today, this idea of a tug—of—war between the scientists and the treasury. now, we also heard from claire, the chief economic adviser to the treasury today. she admitted that no nurses coming out economic analysis —— analysis, was done before the lockdown. i analysis -- analysis, was done before the lockdown. i wouldn't say there was no _ before the lockdown. i wouldn't say there was no meaningful _ before the lockdown. i wouldn't say there was no meaningful muddling. there _ there was no meaningful muddling. there was— there was no meaningful muddling. there was a lot of analysis and modelling that happen. what i would say is _ modelling that happen. what i would say is there was no estimated cost of the _ say is there was no estimated cost of the lockdown, if you like. there is no _ of the lockdown, if you lik
he was referring to the treasury there and referring to the treasury there and referring to the treasury restrictions and have a second lock down here in the uk. now, i think it reflects a document that was going on at the time, but, as i say, some of what was put to the witnesses today, this idea of a tug—of—war between the scientists and the treasury. now, we also heard from claire, the chief economic adviser to the treasury today. she admitted that no nurses coming out economic analysis...
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Nov 2, 2023
11/23
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>> i just look at the ten-year treasury. that's pulled back to 4.65.t's telling you everything you need to know. we're taking back the hiking that the treasury market did on behalf of the federal reserve. >> yeah, unless it's falling because we think we're in a weakening economic period. so, courtney reagan, expedia, booking holdings, it's not all about apple. these are important too. >> sure. we'll get a window into how consumers are feeling about leisure travel in a couple of minutes. both of course online booking agencies for airlines and hotels and while domestic travel is seeing a slowdown from post pandemic high, international appears to be holding up at least that's what we've heard so far from the airline carriers. now, hotel operators, marriott, hyatt, hilton are reporting still strong demand with slightly higher rates, at least for the most part. disappointing profit expectations so investors will want to know expectations from booking and expedia, up coming, nonpeak holiday travel and the color we hopefully get on the conference calls and th
>> i just look at the ten-year treasury. that's pulled back to 4.65.t's telling you everything you need to know. we're taking back the hiking that the treasury market did on behalf of the federal reserve. >> yeah, unless it's falling because we think we're in a weakening economic period. so, courtney reagan, expedia, booking holdings, it's not all about apple. these are important too. >> sure. we'll get a window into how consumers are feeling about leisure travel in a couple...
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Nov 28, 2023
11/23
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there may be a role for the treasury, many ople have argued this. not only in terms of treasury securities that are issued, there's already some thing, one day non-interest-bearing security, certificates of indebtedness. the meant, you mentioned, it does have authority and the senior edge from there is that can you write an account it differently. i think rather than focusing on phrases, to focus on surveillance. censorship, fraud, all those -- and we can take them all of i think some ll require new law. especially when it comes to privacy. >> i think there is may be a role for new laws but al for enforcing the law that we have, that has me authority. you mentioned fraud and you could do some things on fed wire, which is usually where the bigger wire transfers happen as opposed --. we have time for one more questi and i want to turn to the audience. we will start with youtim. the panel before, ere was conversation about frequent flyer miles and credit card points and you talk out the private creation of money. and last night, i am booking ticks to g
there may be a role for the treasury, many ople have argued this. not only in terms of treasury securities that are issued, there's already some thing, one day non-interest-bearing security, certificates of indebtedness. the meant, you mentioned, it does have authority and the senior edge from there is that can you write an account it differently. i think rather than focusing on phrases, to focus on surveillance. censorship, fraud, all those -- and we can take them all of i think some ll...
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Nov 28, 2023
11/23
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do you see a place for the treasury to explore as opposed to the central bank? why does it have to be a central bank versus a treasury or government backed digital currency? >> i actually find the entire cbd see conversation very confusing because it doesn't have the key design elements, sowhat part is issuing it, what is the technological specifications when it comes to privacy and tracking. if you think about a physical coin, probably the most private way, there's no serial number on it. there's many things we could think about but at the same time, i would argue that there's all sorts of reasons to pursue or not to pursue. i think ose are heavily related to wholesale commercial, larger national competitive issues. if we care about retail payments, let's figure out, what are the things that are most important to us? i would argue, we have already mentioned safety, speed, funds availability, we actually have lots of tools to address those, both in the current system an beyond. for example, there is a law called the electronic funds availability act, it is imple
do you see a place for the treasury to explore as opposed to the central bank? why does it have to be a central bank versus a treasury or government backed digital currency? >> i actually find the entire cbd see conversation very confusing because it doesn't have the key design elements, sowhat part is issuing it, what is the technological specifications when it comes to privacy and tracking. if you think about a physical coin, probably the most private way, there's no serial number on...
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Nov 29, 2023
11/23
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america is unique in that the mint is an liability of the treasury. and paper money is a liability of the federal reserve. i think it's like us in kenya or argentina that are the only countries on earth that do that. it also expands why we don't have dollar coins in america. the fed doesn't make money on that. i see others had a really interesting paper about the treasury playing a more interesting role in the mint book you talk about a digital coin as opposed to a digital dollar. i want to ask about the federal reserve and see bdc, central bank digital currency. we have see bdc america and we have for a long time. do you see a place for the treasury to explore as opposed to the central bank? why does it have to be a central bank visual currency versus a treasury or government act digital currency? >> i actually find the entire conversation very confusing. it doesn't divide up the key design let's. what part is issuing it? what is the technological specification when it comes to privacy and tracking? if you think about it? my physical coin, probably t
america is unique in that the mint is an liability of the treasury. and paper money is a liability of the federal reserve. i think it's like us in kenya or argentina that are the only countries on earth that do that. it also expands why we don't have dollar coins in america. the fed doesn't make money on that. i see others had a really interesting paper about the treasury playing a more interesting role in the mint book you talk about a digital coin as opposed to a digital dollar. i want to ask...
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Nov 24, 2023
11/23
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the honorable jacob lew who served as the 76 secretary of the treasury, as white house chief of staff, as as a diref the office of management and budget to actual position he had preached briefly held in the second term of the clinton administration, and his deputy secretary of state for management and resources. welcome, secretary duke. >> peter baker who is working very hard for us today. i think this is your third? is a chief white house correspondent of the near times, responsible for reporting on the biden presidency right now he proves he wrote about president donald trump and barack obama for the "new york times" and presidents bill clinton and george w. bush for the "washington post." welcome mr. baker. welcome welcome back, mr.s whipple is an author, political commentator and documentary filmmaker. one of his books, the president gatekeepers,f explores the evolution of the white house chief of staff responsibilities in the past 50 years, from nixon to the obama administration's. his most recent book, a fight of his life come inside joe biden's white house, examines internal p
the honorable jacob lew who served as the 76 secretary of the treasury, as white house chief of staff, as as a diref the office of management and budget to actual position he had preached briefly held in the second term of the clinton administration, and his deputy secretary of state for management and resources. welcome, secretary duke. >> peter baker who is working very hard for us today. i think this is your third? is a chief white house correspondent of the near times, responsible for...
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Nov 21, 2023
11/23
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[000:00:00;00] the treasury should solve the problems and then put it back, not to leave, take a salary, come in, let it take a year to depreciate , and create inflation in the society. it does not mean that i am saying that the ladder has not increased. other places in the banks are currently active because it shouldn't increase liquidity , no, it's not their issue, this case has been handled well, the issue of raising salaries has been done fairly. i see the important point here is when you meet someone you say, sir, open a factory and sell it all your life, take a loan, get a loan, the field of a factory is enough, if you have to do it, your life will be destroyed, i should not have a company from the government's treasury , i can compete with this if i have to do it, the government has to do it, if it has to do it zand, i have the power and knowledge, but i don't have the power and knowledge, that's why i always believe this, and i believe that our officials should usually be from those who are not involved in economic issues . whatever is acceptable is acceptable really, when he co
[000:00:00;00] the treasury should solve the problems and then put it back, not to leave, take a salary, come in, let it take a year to depreciate , and create inflation in the society. it does not mean that i am saying that the ladder has not increased. other places in the banks are currently active because it shouldn't increase liquidity , no, it's not their issue, this case has been handled well, the issue of raising salaries has been done fairly. i see the important point here is when you...
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Nov 28, 2023
11/23
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BLOOMBERG
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treasuries steady after a rally. president christine lagarde says softening in the jobs market but warns the outlook for inflation remains uncertain. welcome to tuesday, we are headed for a risk off day on both sides of the pond this morning. you are looking at euro stoxx 50 futures pretty flat as our s&p 100 futures as our nasdaq futures. not a lot of movement. the treasury yield is tracking ever so slightly lowered down to basis points. you have seen the cool reception at the auction. five years see a. overall, this decline in rates adding pressure on the dollar sending the greenback lower, it has been all over the place down a 10th of a percent, later today we will get a read on u.s. sentiment ahead of the holidays. you have consumer confidence reading from the conference board at 3:00 p.m. london time. economists expect it will show optimism at its lowest level since july of last year. but all of that eco-data will feed into the price action. wti crude futures for january up to tens of a percent, $75 a barrel. re
treasuries steady after a rally. president christine lagarde says softening in the jobs market but warns the outlook for inflation remains uncertain. welcome to tuesday, we are headed for a risk off day on both sides of the pond this morning. you are looking at euro stoxx 50 futures pretty flat as our s&p 100 futures as our nasdaq futures. not a lot of movement. the treasury yield is tracking ever so slightly lowered down to basis points. you have seen the cool reception at the auction....
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Nov 30, 2023
11/23
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BBCNEWS
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he was chief secretary of the treasury when _ long.s chief secretary of the treasury when i — long. he was chief secretary of the treasury when i was _ long. he was chief secretary of the treasury when i was chancellor - long. he was chief secretary of the treasury when i was chancellor so | long. he was chief secretary of the i treasury when i was chancellor so we worked very closely but then he was a person who showed enormous skills in government and that's why as a departmental manager but also as someone with a strong sense of judgment, he became council secretary, then at the department of industry and he was the obvious choice when i became prime minister to become chancellor in 2007 and of course, he had to deal at very first time with the collapse of the banks, including the two scottish banks, he had to deal with the international ramifications of the crisis by talking to finance ministers across the world and i think router that, he gain the respect of people internationally and nationally in the way that he handled the diff
he was chief secretary of the treasury when _ long.s chief secretary of the treasury when i — long. he was chief secretary of the treasury when i was _ long. he was chief secretary of the treasury when i was chancellor - long. he was chief secretary of the treasury when i was chancellor so | long. he was chief secretary of the i treasury when i was chancellor so we worked very closely but then he was a person who showed enormous skills in government and that's why as a departmental manager...
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Nov 2, 2023
11/23
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treasuries. china has been the big growth in terms of savings over the last few decades. they are not really interested in buying more u.s. treasuries. we are trying to shove all this debt down the throats of a pool of savers that are not really interested. you have to reprice it. chrysler also the -- there are also the geopolitical tensions. not to mention the middle east and europe. how do you hedge? request we think the fed will be forced to step in and make some unpleasant decisions. where they have to start to support u.s. debt. at that point, the dollar starts to weaken. then some of the more traditional place, gold, emerging markets, china looks very attractive for the equity market. the problem is all the money is sitting here in these nasdaq stocks. this is why we have been trying to play with this. it is so very hard. it is much easier to sell bonds. the point is this does look to us when we are studying all the classic bubbles through history. the nasdaq right here right now looks like
treasuries. china has been the big growth in terms of savings over the last few decades. they are not really interested in buying more u.s. treasuries. we are trying to shove all this debt down the throats of a pool of savers that are not really interested. you have to reprice it. chrysler also the -- there are also the geopolitical tensions. not to mention the middle east and europe. how do you hedge? request we think the fed will be forced to step in and make some unpleasant decisions. where...
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Nov 24, 2023
11/23
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FBC
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let's look at the 10 year treasury yield.e have it up again about 5. 9 basis points, close to 4.5% level but still pretty low compared to where it was a month ago. oil is trading down $0.40, $76.70 a barrel, bitcoin is trading up a bit, gaining a little bit up 560, $573. look at this headline in the new york post. elon musk exposes media matters as an ideological shakedown operation, tammy bruce joins me. i love it when curtains are drawn and you see what's actually going on, the way people operate and that is what elon musk is trying to do by this lawsuit. lauren: it's not the first time. even taking over twitter he did that and twitter files revealing what has always been behind the scenes, the establishment has relied on that kind of secrecy and i am making up for it and have been for quite some time, there is a network and it works to self replicate the dynamics of this is what we are seeing, nothing happens in a vacuum on the left, media matters act like the assignment desk for all the rest of the left. david: they weren
let's look at the 10 year treasury yield.e have it up again about 5. 9 basis points, close to 4.5% level but still pretty low compared to where it was a month ago. oil is trading down $0.40, $76.70 a barrel, bitcoin is trading up a bit, gaining a little bit up 560, $573. look at this headline in the new york post. elon musk exposes media matters as an ideological shakedown operation, tammy bruce joins me. i love it when curtains are drawn and you see what's actually going on, the way people...