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  1. #3881

    Fingers like lightning

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    Quote Originally Posted by Whorty View Post
    And yet, on he goes. You really have to wonder how his mind works.
    It's honestly not a mystery, it's the classic combination of severe insecurity and narcissism.

    The vast majority of his posts are peppered with insecure statements of his self acclaimed prowess, be it years of study, declaring lack of bias (a fallacy), being "into math" (didn't understand the effects of dividends on BP and viewed the value of the stock purely from a chart).

    It's quite rare for people to continually qualify their statements the way he does, it's almost childlike.

  2. #3882

    My post count is Majestic

    AtW is always on top

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    Let’s not be ageist - that can be said about 90% of posters on here...

  3. #3883

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    Default Banks Prepare for ‘Big Bang’ Switch From LIBOR

    Are you prepared for next week? There's absolutely bugger all being reported on this experiment that began on Friday evening.

    Will be interesting to see how the Asian markets react at 7pm tomorrow evening. Popcorn on standby...

    Swiss central bank must be bricking it this weekend, they've effectively become a hedge fund they've levered up on FANG stocks like a Robbinhood retail investor who just got their stimulus cheque.


    The debt markets and derivates segments are gearing up for an enormous change called the “Big Bang,” i.e. switching over from the old interest rate benchmark, the London Interbank Offered Rate (LIBOR), to the new Secured Overnight Financing Rate (SOFR), reports Bloomberg.

    The new interest rate benchmark for all dollar-denominated derivative securities would replace USD LIBOR and federal funds rate next week.


    What Happened: The SOFR referencing rate would be adopted over the weekend and is estimated to cover interest rate swaps on more than $80 trillion worth of notional debt, according to Bloomberg.


    SOFR is a transaction-based reference point to estimate the cost of overnight borrowings, considering U.S. Treasury Securities as collateral.


    The decision on SOFR was finalized by the Alternative Reference Rates Committee (ARRC), which was formed in 2014 to identify an alternate reference point for derivate contracts in US dollars.


    Trading activity in SOFR-linked swaps peaked in September at $116.6 billion in notional volume, twice the volume in August.


    The ARRC clarified that the SOFR would be determined by transactions in bilateral repos, tri-party repo, and general collateral finance repo routed through the Fixed Income Clearing Corporation (FICC).


    Why Does It Matter: Jason Garnet, the Chief LIBOR transition officer at Goldman Sachs Group said that SOFR referencing could dramatically improve liquidity, reports Bloomberg.


    On the other hand, there are speculations that the change in benchmarks could lead to a bulk swaps sale, resulting in untoward price fluctuations.


    Clearing services providers LCH and CME Group will adjust client positions and neutralize the impact of change in values for vanilla swaps, as well as handle client disbursements after rebalancing the positions.


    Reportedly, LCH will hold auction settlements to sell unwanted variable interest rate swaps. However, there is no minimum price guarantee for the basis swaps.

    Banks Prepare for 'Big Bang' Switch From LIBOR - CFO
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

  4. #3884

    Contractor Among Contractors

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    Quote Originally Posted by AtW View Post
    I guess we know who will win CUK Cretin of the Year 2020 Award, again
    If only the markets were even remotely that predictable.

    You definitely don't need a chart to see Scooty's cretinism.
    Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

  5. #3885

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    Of course, you do realise, the more we take the piss out of him the more it reinforces his (contrarian) belief that he's on the right track.
    Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

  6. #3886

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    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

  7. #3887

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    So much winning


  8. #3888

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    Who is he actually talking to? Maybe his new mate Baba?
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  9. #3889

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    ChimpMaster - scorchio!

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    Quote Originally Posted by scooterscot View Post
    Ummm you do know that Gandhi never actually said this?

  10. #3890

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    Quote Originally Posted by ChimpMaster View Post
    Ummm you do know that Gandhi never actually said this?
    It's on the Internet, so it must be true!


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