OCBC Bank    Last:23.94    -0.06

ocbc buyers fight back from the shortists

LAST year, policymakers embarked on one of the most aggressive rate-hiking cycles to deal with an inflation problem that the world had not seen in more than 40 years. Conventional wisdom would assume that high interest rates would fix the soaring levels of inflation. Tighter policy would deter economic activity credit becomes more expensive for consumers to spend and companies to invest and saving is incentivised.
But these are not conventional times. The mechanisms above are largely effective in stymying private-sector credit creation.
However, what if private-sector money creation was not primarily responsible for the inflation observed today? What if the supply side is more impacted, as geopolitical tensions impede the free flow of goods, labour and capital? What if demand was more fuelled by rates-insensitive deficit spending rather than private sector/household borrowing?

A better solution for today&rsquo s inflation

The above questions are rhetorical once we observe the large role played by fiscal policy in this post-pandemic inflation.
Such inflation should be better addressed via a mix of austerity and diplomacy, yet interest rates continue to be the instrument of choice. This is perhaps because the Federal Reserve does not have the appropriate tools for deficit-driven inflation.
Fed tightening works insofar as high rates slow the pace of private-money creation. But so long as deficit spending persists, money supply continues to grow in different forms, and hence inflation volatility remains. Rates may have to stay high for longer than investors expect, so that a slowdown in the private sector compensates for the stimulative deficits in the public sector.
 

chartistkao1      ( Date: 08-Nov-2023 14:22) Posted: https://www.thedcn.com.au/region/asia/australia-pursues-export-opportunities-in-china/ What products does China buy from Australia?   Australian exports of commodities including barley, coal and timber to China resumed earlier this year but barriers remain on wine, lobsters and meat from some abattoirs.28 Sept 2023 chartistkao1      ( Date: 08-Nov-2023 14:18) Posted: strangely after https://www.channelnewsasia.com/asia/china-president-xi-jinping-meets-australia-pm-anthony-albanese-3899626 sgdaud still 1.1472 sgdcnh5.294

 

chartistkao1      ( Date: 08-Nov-2023 14:18) Posted: strangely after https://www.channelnewsasia.com/asia/china-president-xi-jinping-meets-australia-pm-anthony-albanese-3899626 sgdaud still 1.1472 sgdcnh5.294 chartistkao1      ( Date: 08-Nov-2023 14:15) Posted: last three days also saw a very unusual event where usdsgd strengthened from 1.373 to 1.34 after this big event usdsgd become 1.35

 

strangely after

chartistkao1      ( Date: 08-Nov-2023 14:15) Posted: last three days also saw a very unusual event where usdsgd strengthened from 1.373 to 1.34 after this big event usdsgd become 1.355 chartistkao1      ( Date: 08-Nov-2023 14:13) Posted: https://www.cnbc.com/2023/11/06/singapore-bank-dbs-q3-2023-earnings-quarterly-profit-beats-forecast.html   https://sg.finance.yahoo.com/quote/D05.SI/history?p=D05.SI   after dbs share was shorted they short sing and tell share today sing tel https://www.investingnote.com/stocks/SGX:Z74#/all after 22 years after it purchases optus in 2001 https://www.optus.com.au/about/media-centre/media-releases/2001/10/singtel-australia-completes-acquisition-of-optus

 

last three days also saw a very unusual event where usdsgd strengthened from 1.373 to 1.34 after this big event usdsgd become 1.355

chartistkao1      ( Date: 08-Nov-2023 14:13) Posted: https://www.cnbc.com/2023/11/06/singapore-bank-dbs-q3-2023-earnings-quarterly-profit-beats-forecast.html   https://sg.finance.yahoo.com/quote/D05.SI/history?p=D05.SI   after dbs share was shorted they short sing and tell share today sing tel https://www.investingnote.com/stocks/SGX:Z74#/all after 22 years after it purchases optus in 2001 https://www.optus.com.au/about/media-centre/media-releases/2001/10/singtel-australia-completes-acquisition-of-optus chartistkao1      ( Date: 08-Nov-2023 14:09) Posted: dbs share was hit after its third quarter results 2 days ago 06 Nov 2023 33.39 33.75 33.35 33.75 33.75 4,253,000

 

chartistkao1      ( Date: 08-Nov-2023 14:09) Posted: dbs share was hit after its third quarter results 2 days ago 06 Nov 2023 33.39 33.75 33.35 33.75 33.75 4,253,000 chartistkao1      ( Date: 08-Nov-2023 09:46) Posted: https://ceomorningbrief.theedgemalaysia.com/2023/0666

 

dbs share was hit after its third quarter results 2 days ago

06 Nov 2023

33.39

33.75

33.35

33.75

33.75

4,253,000

chartistkao1      ( Date: 08-Nov-2023 09:46) Posted: https://ceomorningbrief.theedgemalaysia.com/2023/0666/ chartistkao1      ( Date: 08-Nov-2023 09:26) Posted: The Santa Claus rally refers to the tendency for the stock market (specifically, the S& P 500) to rally over the week leading up to Christmas (Dec.   which is the sector that is badly selldown due to fed rapid rate hikes from 2022 to 2023

 

https://ceomorningbrief.theedgemalaysia.com/2023/0666/

chartistkao1      ( Date: 08-Nov-2023 09:26) Posted: The Santa Claus rally refers to the tendency for the stock market (specifically, the S& P 500) to rally over the week leading up to Christmas (Dec.   which is the sector that is badly selldown due to fed rapid rate hikes from 2022 to 2023 chartistkao1      ( Date: 08-Nov-2023 09:24) Posted: 分 析 ： 银 行 定 存 利 率 或 见 顶 短 期 料 维 持 不 锐 减 订 户 赠 阅 文 章 陈 紫 筠 发 布 / 2023年 11月 07日 06:25 PM https://www.zaobao.com.sg/finance/singapore/story20231107-1448510 https://www.moomoo.com/sg/hans/learn/detail-5-fixed-deposit-rates-in-singapore-110354-230781026

 

chartistkao1      ( Date: 08-Nov-2023 09:24) Posted: 分 析 ： 银 行 定 存 利 率 或 见 顶 短 期 料 维 持 不 锐 减 订 户 赠 阅 文 章 陈 紫 筠 发 布 / 2023年 11月 07日 06:25 PM https://www.zaobao.com.sg/finance/singapore/story20231107-1448510 https://www.moomoo.com/sg/hans/learn/detail-5-fixed-deposit-rates-in-singapore-110354-230781026 chartistkao1      ( Date: 08-Nov-2023 09:17) Posted: https://www.straitstimes.com/business/mas-starts-pilot-scheme-to-help-insurers-make-green-investments-in-asi

 

订 户

chartistkao1      ( Date: 08-Nov-2023 09:17) Posted: https://www.straitstimes.com/business/mas-starts-pilot-scheme-to-help-insurers-make-green-investments-in-asia chartistkao1      ( Date: 08-Nov-2023 02:49) Posted: 7/11/2023 profit taking in asia major markets saw ocbc buying back its share again https://investors.sgx.com/securities/stocks?security=O39 https://finance.yahoo.com/quote/O39.SI/history?p=O39.SI

 

https://www.straitstimes.com/business/mas-starts-pilot-scheme-to-help-insurers-make-green-investments-in-asia

chartistkao1      ( Date: 08-Nov-2023 02:49) Posted: 7/11/2023 profit taking in asia major markets saw ocbc buying back its share again https://investors.sgx.com/securities/stocks?security=O39 https://finance.yahoo.com/quote/O39.SI/history?p=O39.SI chartistkao1      ( Date: 06-Nov-2023 16:22) Posted: and you use the two wars -ukraine war 2022 and gazas war 2023 to add more for your retirement account after 65 years ol

 

7/11/2023 profit taking in asia major markets saw ocbc buying back its share again

chartistkao1      ( Date: 06-Nov-2023 16:22) Posted: and you use the two wars -ukraine war 2022 and gazas war 2023 to add more for your retirement account after 65 years old chartistkao1      ( Date: 06-Nov-2023 16:19) Posted: if you brought 10 lots of ocbc at $8.88 on 25 october 2019 and adjusted for its 4% dividend your cost will be around $5 if you hold them till today https://sg.finance.yahoo.com/quote/O39.SI/history?period1=946857600& period2=1699228800& interval=1d& filter=history& frequency=1d& includeAdjustedClose=tru

 

and you use the two wars -ukraine war 2022 and gazas war 2023 to add more for your retirement account after 65 years old

chartistkao1      ( Date: 06-Nov-2023 16:19) Posted: if you brought 10 lots of ocbc at $8.88 on 25 october 2019 and adjusted for its 4% dividend your cost will be around $5 if you hold them till today https://sg.finance.yahoo.com/quote/O39.SI/history?period1=946857600& period2=1699228800& interval=1d& filter=history& frequency=1d& includeAdjustedClose=true chartistkao1      ( Date: 06-Nov-2023 15:06) Posted: only can see his high salary but can not see the dirty money https://sg.finance.yahoo.com/news/dbs-has-s100-million-exposure-to-singapore-laundering-scandal-061424624.html   https://www.youtube.com/watch?v=X0sevSWDOE8

 

if you brought 10 lots of ocbc at $8.88 on 25 october 2019 and adjusted for its 4% dividend your cost will be around $5 if you hold them till today
https://sg.finance.yahoo.com/quote/O39.SI/history?period1=946857600& period2=1699228800& interval=1d& filter=history& frequency=1d& includeAdjustedClose=true

chartistkao1      ( Date: 06-Nov-2023 15:06) Posted: only can see his high salary but can not see the dirty money https://sg.finance.yahoo.com/news/dbs-has-s100-million-exposure-to-singapore-laundering-scandal-061424624.html   https://www.youtube.com/watch?v=X0sevSWDOE8 chartistkao1      ( Date: 06-Nov-2023 14:59) Posted: how it is li9nked to the hokkien gangsters https://sg.finance.yahoo.com/news/dbs-has-s100-million-exposure-to-singapore-laundering-scandal-061424624.htm

 

only can see his high salary but can not see the dirty money

chartistkao1      ( Date: 06-Nov-2023 14:59) Posted: how it is li9nked to the hokkien gangsters https://sg.finance.yahoo.com/news/dbs-has-s100-million-exposure-to-singapore-laundering-scandal-061424624.html chartistkao1      ( Date: 06-Nov-2023 14:43) Posted: after circuit breaker shock in 2020 till 2024 end https://investors.sgx.com/company-disclosures/company-announcements?securityCode=O39& annc=B9RMDJ719YJOIUIV   https://www.youtube.com/watch?v=8tE0GjSQpes

 

how it is li9nked to the hokkien gangsters
https://sg.finance.yahoo.com/news/dbs-has-s100-million-exposure-to-singapore-laundering-scandal-061424624.html

chartistkao1      ( Date: 06-Nov-2023 14:43) Posted: after circuit breaker shock in 2020 till 2024 end https://investors.sgx.com/company-disclosures/company-announcements?securityCode=O39& annc=B9RMDJ719YJOIUIV   https://www.youtube.com/watch?v=8tE0GjSQpes chartistkao1      ( Date: 06-Nov-2023 14:39) Posted: what the big country will wake up a tiny kampong many many moons away Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T& Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. https://www.ft.com/content/5658cc1d-a8cd-4fde-9b09-1121cab80ea1 The Fed&rsquo s 2008-onward QE programmes swamped banks with excess liquidity &mdash with reserves far greater than what the reserve requirement would dictate &mdash neutering the fed funds market&rsquo s traditional role. See that tiny bump in 2001? That was the then-unprecedented liquidity injection the Fed orchestrated after the 9/11 terrorist attack. Nowadays it looks almost quaint. In March 2020 the Fed scrapped the reserve requirement entirely, partly to ease financial conditions but mostly because it was utterly redundant by that point.* That&rsquo s why the data on the chart above only goes up to 2020, after which it was discontinued. To manage the fed funds rate in the era of excess reserves, the central bank introduced several new tools: primarily the IOER, or interest on excess reserves (since 2021 actually interest on reserve balances, or IORB), and the ON-RRP, or overnight reserve repo programme. The IOER/IORB is the rate the Fed pays commercial banks on deposits held with it, which pulls the fed funds rate to the target rate. After all, why lend to another bank at a lower rate than what you can get at the Fed? The ON-RRP helps push it, by the Fed selling Treasuries and agreeing to repurchase them the next day, basically setting an overnight interest rate for itself. These levers have worked pretty well, despite fears that something somewhere would break when the Fed first started raising interest rates back in 2015. As the NY Fed paper notes, there are two main reasons why the FHLBs dominate lending in today&rsquo s fed fund market (accounting for about 90 per cent of the volume): First, FHLBs must hold liquidity portfolios &mdash partly to meet minimum regulatory requirements, but also to satisfy advances to their members. Fed funds are key instruments in such portfolios, along with interest-bearing deposit accounts and other selected short-term investments such as reverse repos. This means that FHLBs turn to the fed funds market to invest excess cash holdings. Second, unlike domestic banks and FBO branches, FHLBs do not earn interest on their balances at the central bank, which creates an incentive for them to lend at rates below the IORB rate. In turn, this incentive to lend at low rates triggers the arbitrage mechanism between fed funds rates and the IORB rate, making it a regular phenomenon rather than an anomaly. And foreign bank branches are the biggest borrowers because their different regulatory treatment allows them to eke out an arbitrage by borrowing at the fed funds rate and reinvesting it in the IORB. Unlike domestic banks, however, most FBO branches are not insured by the Federal Deposit Insurance Corporation (FDIC) after amendments to the International Banking Act disallowed new branches of FBOs from obtaining deposit insurance. This regulatory difference has two important implications for why FBO branches borrow in the fed funds market: First, it limits their access to deposits &mdash the main source of domestic bank funding &mdash making fed funds an important source of their short-term funding. Second, since they do not pay the FDIC assessment fee, most FBO branches face an effective cost of borrowing fed funds that is lower than that of domestic banks. Lower funding costs give FBO branches an advantage over their domestic counterparts in arbitraging fed funds offered at rates below the interest on reserve balances (IORB) rate, as they can effectively earn a larger spread by borrowing fed funds and depositing the borrowed funds at the Fed. Furthermore, differences in regulatory requirements across jurisdictions make engaging in the arbitrage trade less costly and less capital intensive for FBO branches. Specifically, leverage ratios in foreign jurisdictions are often calculated as a period-end snapshot, as opposed to daily or weekly averages in the U.S., which allows FBO branches more flexibility to borrow between reporting dates and simply unwind their positions on month-end or quarter-end dates to maintain higher reported leverage ratios. Regulations and arbitrage rules everything around us, basically. Alphaville still doesn&rsquo t have a good understanding of just why, say, Mega Bank is so hot for this trade. Answers on a postcard (or, better still, in the comments). But as far as monetary plumbing is concerned it &mdash basically works? Here&rsquo s a chart showing the daily fed funds rate staying obediently between the IORB and ON-RRP rate as policymakers jacked up interest rates since 2022. The question of course is what might happen as the Fed keeps shrinking its balance sheet and goes from an era of &ldquo excess reserves&rdquo to &ldquo abundant&rdquo and eventually to &ldquo ample&rdquo (these are terms the central bank itself uses, honest). As the NY Fed paper points out, daily fed funds volumes have climbed sharply lately (even though they are far below pre-2008 levels), and continually shrinking reserves means that fed funds market activity will probably continue to recover. The problem is that no one really knows where excess became abundant, and abundant becomes ample &mdash or, crucially, when ample becomes acutely tight. We might only find out when something goes wrong. And you really don&rsquo t want your monetary plumbing to go wrong. *Tweaked and added some context around the Fed ending reserve requirements in 2020. Sign up to the Emerging Markets: New York AM newsletter, every weekday Copyright The Financial Times Limited 2023. All rights reserved. Lat

 

after circuit breaker shock in 2020 till 2024 end

chartistkao1      ( Date: 06-Nov-2023 14:39) Posted: what the big country will wake up a tiny kampong many many moons away Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T& Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here. https://www.ft.com/content/5658cc1d-a8cd-4fde-9b09-1121cab80ea1 The Fed&rsquo s 2008-onward QE programmes swamped banks with excess liquidity &mdash with reserves far greater than what the reserve requirement would dictate &mdash neutering the fed funds market&rsquo s traditional role. See that tiny bump in 2001? That was the then-unprecedented liquidity injection the Fed orchestrated after the 9/11 terrorist attack. Nowadays it looks almost quaint. In March 2020 the Fed scrapped the reserve requirement entirely, partly to ease financial conditions but mostly because it was utterly redundant by that point.* That&rsquo s why the data on the chart above only goes up to 2020, after which it was discontinued. To manage the fed funds rate in the era of excess reserves, the central bank introduced several new tools: primarily the IOER, or interest on excess reserves (since 2021 actually interest on reserve balances, or IORB), and the ON-RRP, or overnight reserve repo programme. The IOER/IORB is the rate the Fed pays commercial banks on deposits held with it, which pulls the fed funds rate to the target rate. After all, why lend to another bank at a lower rate than what you can get at the Fed? The ON-RRP helps push it, by the Fed selling Treasuries and agreeing to repurchase them the next day, basically setting an overnight interest rate for itself. These levers have worked pretty well, despite fears that something somewhere would break when the Fed first started raising interest rates back in 2015. As the NY Fed paper notes, there are two main reasons why the FHLBs dominate lending in today&rsquo s fed fund market (accounting for about 90 per cent of the volume): First, FHLBs must hold liquidity portfolios &mdash partly to meet minimum regulatory requirements, but also to satisfy advances to their members. Fed funds are key instruments in such portfolios, along with interest-bearing deposit accounts and other selected short-term investments such as reverse repos. This means that FHLBs turn to the fed funds market to invest excess cash holdings. Second, unlike domestic banks and FBO branches, FHLBs do not earn interest on their balances at the central bank, which creates an incentive for them to lend at rates below the IORB rate. In turn, this incentive to lend at low rates triggers the arbitrage mechanism between fed funds rates and the IORB rate, making it a regular phenomenon rather than an anomaly. And foreign bank branches are the biggest borrowers because their different regulatory treatment allows them to eke out an arbitrage by borrowing at the fed funds rate and reinvesting it in the IORB. Unlike domestic banks, however, most FBO branches are not insured by the Federal Deposit Insurance Corporation (FDIC) after amendments to the International Banking Act disallowed new branches of FBOs from obtaining deposit insurance. This regulatory difference has two important implications for why FBO branches borrow in the fed funds market: First, it limits their access to deposits &mdash the main source of domestic bank funding &mdash making fed funds an important source of their short-term funding. Second, since they do not pay the FDIC assessment fee, most FBO branches face an effective cost of borrowing fed funds that is lower than that of domestic banks. Lower funding costs give FBO branches an advantage over their domestic counterparts in arbitraging fed funds offered at rates below the interest on reserve balances (IORB) rate, as they can effectively earn a larger spread by borrowing fed funds and depositing the borrowed funds at the Fed. Furthermore, differences in regulatory requirements across jurisdictions make engaging in the arbitrage trade less costly and less capital intensive for FBO branches. Specifically, leverage ratios in foreign jurisdictions are often calculated as a period-end snapshot, as opposed to daily or weekly averages in the U.S., which allows FBO branches more flexibility to borrow between reporting dates and simply unwind their positions on month-end or quarter-end dates to maintain higher reported leverage ratios. Regulations and arbitrage rules everything around us, basically. Alphaville still doesn&rsquo t have a good understanding of just why, say, Mega Bank is so hot for this trade. Answers on a postcard (or, better still, in the comments). But as far as monetary plumbing is concerned it &mdash basically works? Here&rsquo s a chart showing the daily fed funds rate staying obediently between the IORB and ON-RRP rate as policymakers jacked up interest rates since 2022. The question of course is what might happen as the Fed keeps shrinking its balance sheet and goes from an era of &ldquo excess reserves&rdquo to &ldquo abundant&rdquo and eventually to &ldquo ample&rdquo (these are terms the central bank itself uses, honest). As the NY Fed paper points out, daily fed funds volumes have climbed sharply lately (even though they are far below pre-2008 levels), and continually shrinking reserves means that fed funds market activity will probably continue to recover. The problem is that no one really knows where excess became abundant, and abundant becomes ample &mdash or, crucially, when ample becomes acutely tight. We might only find out when something goes wrong. And you really don&rsquo t want your monetary plumbing to go wrong. *Tweaked and added some context around the Fed ending reserve requirements in 2020. Sign up to the Emerging Markets: New York AM newsletter, every weekday Copyright The Financial Times Limited 2023. All rights reserved. Late chartistkao1      ( Date: 06-Nov-2023 13:31) Posted: the sleeping fishing kampong https://www.youtube.com/watch?v=YXXPHAzl1xI 1965 to 1970

 

what the big country will wake up a tiny kampong many many moons away
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T& Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.
https://www.ft.com/content/5658cc1d-a8cd-4fde-9b09-1121cab80ea1

The Fed&rsquo s 2008-onward QE programmes swamped banks with excess liquidity &mdash with reserves far greater than what the reserve requirement would dictate &mdash neutering the fed funds market&rsquo s traditional role. See that tiny bump in 2001? That was the then-unprecedented liquidity injection the Fed orchestrated after the 9/11 terrorist attack. Nowadays it looks almost quaint. In March 2020 the Fed scrapped the reserve requirement entirely, partly to ease financial conditions but mostly because it was utterly redundant by that point.* That&rsquo s why the data on the chart above only goes up to 2020, after which it was discontinued. To manage the fed funds rate in the era of excess reserves, the central bank introduced several new tools: primarily the IOER, or interest on excess reserves (since 2021 actually interest on reserve balances, or IORB), and the ON-RRP, or overnight reserve repo programme. The IOER/IORB is the rate the Fed pays commercial banks on deposits held with it, which pulls the fed funds rate to the target rate. After all, why lend to another bank at a lower rate than what you can get at the Fed? The ON-RRP helps push it, by the Fed selling Treasuries and agreeing to repurchase them the next day, basically setting an overnight interest rate for itself. These levers have worked pretty well, despite fears that something somewhere would break when the Fed first started raising interest rates back in 2015. As the NY Fed paper notes, there are two main reasons why the FHLBs dominate lending in today&rsquo s fed fund market (accounting for about 90 per cent of the volume): First, FHLBs must hold liquidity portfolios &mdash partly to meet minimum regulatory requirements, but also to satisfy advances to their members. Fed funds are key instruments in such portfolios, along with interest-bearing deposit accounts and other selected short-term investments such as reverse repos. This means that FHLBs turn to the fed funds market to invest excess cash holdings. Second, unlike domestic banks and FBO branches, FHLBs do not earn interest on their balances at the central bank, which creates an incentive for them to lend at rates below the IORB rate. In turn, this incentive to lend at low rates triggers the arbitrage mechanism between fed funds rates and the IORB rate, making it a regular phenomenon rather than an anomaly. And foreign bank branches are the biggest borrowers because their different regulatory treatment allows them to eke out an arbitrage by borrowing at the fed funds rate and reinvesting it in the IORB. Unlike domestic banks, however, most FBO branches are not insured by the Federal Deposit Insurance Corporation (FDIC) after amendments to the International Banking Act disallowed new branches of FBOs from obtaining deposit insurance. This regulatory difference has two important implications for why FBO branches borrow in the fed funds market: First, it limits their access to deposits &mdash the main source of domestic bank funding &mdash making fed funds an important source of their short-term funding. Second, since they do not pay the FDIC assessment fee, most FBO branches face an effective cost of borrowing fed funds that is lower than that of domestic banks. Lower funding costs give FBO branches an advantage over their domestic counterparts in arbitraging fed funds offered at rates below the interest on reserve balances (IORB) rate, as they can effectively earn a larger spread by borrowing fed funds and depositing the borrowed funds at the Fed. Furthermore, differences in regulatory requirements across jurisdictions make engaging in the arbitrage trade less costly and less capital intensive for FBO branches. Specifically, leverage ratios in foreign jurisdictions are often calculated as a period-end snapshot, as opposed to daily or weekly averages in the U.S., which allows FBO branches more flexibility to borrow between reporting dates and simply unwind their positions on month-end or quarter-end dates to maintain higher reported leverage ratios. Regulations and arbitrage rules everything around us, basically. Alphaville still doesn&rsquo t have a good understanding of just why, say, Mega Bank is so hot for this trade. Answers on a postcard (or, better still, in the comments). But as far as monetary plumbing is concerned it &mdash basically works? Here&rsquo s a chart showing the daily fed funds rate staying obediently between the IORB and ON-RRP rate as policymakers jacked up interest rates since 2022. The question of course is what might happen as the Fed keeps shrinking its balance sheet and goes from an era of &ldquo excess reserves&rdquo to &ldquo abundant&rdquo and eventually to &ldquo ample&rdquo (these are terms the central bank itself uses, honest). As the NY Fed paper points out, daily fed funds volumes have climbed sharply lately (even though they are far below pre-2008 levels), and continually shrinking reserves means that fed funds market activity will probably continue to recover. The problem is that no one really knows where excess became abundant, and abundant becomes ample &mdash or, crucially, when ample becomes acutely tight. We might only find out when something goes wrong. And you really don&rsquo t want your monetary plumbing to go wrong. *Tweaked and added some context around the Fed ending reserve requirements in 2020. Sign up to the Emerging Markets: New York AM newsletter, every weekday Copyright The Financial Times Limited 2023. All rights reserved. Late

chartistkao1      ( Date: 06-Nov-2023 13:31) Posted: the sleeping fishing kampong https://www.youtube.com/watch?v=YXXPHAzl1xI 1965 to 1970 chartistkao1      ( Date: 06-Nov-2023 13:27) Posted: 1965 stayed in malaysia or moved out of it https://www.youtube.com/watch?v=tKcsFnn9q2

 

the sleeping fishing kampong

chartistkao1      ( Date: 06-Nov-2023 13:27) Posted: 1965 stayed in malaysia or moved out of it https://www.youtube.com/watch?v=tKcsFnn9q2s chartistkao1      ( Date: 06-Nov-2023 13:23) Posted: the history of singaporean after 1965 to 2023 after separated from malaysia https://www.youtube.com/watch?v=-LSQ-bhPGQ

 

1965 stayed in malaysia or moved out of it
https://www.youtube.com/watch?v=tKcsFnn9q2s

chartistkao1      ( Date: 06-Nov-2023 13:23) Posted: the history of singaporean after 1965 to 2023 after separated from malaysia https://www.youtube.com/watch?v=-LSQ-bhPGQo chartistkao1      ( Date: 06-Nov-2023 13:20) Posted: usdsgd 1.3512 https://www.youtube.com/watch?v=H5fyjqdCMCY   https://edition.cnn.com/2023/09/11/middleeast/us-india-gulf-europe-corridor-mime-intl/index.html

 

the history of singaporean after 1965 to 2023 after separated from malaysia
https://www.youtube.com/watch?v=-LSQ-bhPGQo

chartistkao1      ( Date: 06-Nov-2023 13:20) Posted: usdsgd 1.3512 https://www.youtube.com/watch?v=H5fyjqdCMCY   https://edition.cnn.com/2023/09/11/middleeast/us-india-gulf-europe-corridor-mime-intl/index.html chartistkao1      ( Date: 06-Nov-2023 13:17) Posted: https://www.alamy.com/stock-photo-a-group-of-tourists-on-camels-camelus-dromedarius-posing-for-photographs-19057083.html   https://www.youtube.com/watch?v=bMpqIYABDeU