FRM
Wiley Launches New FRM® Exam Review Courses for Part I November 2016 Exam
Are you ready to tackle the FRM exam? Wiley’s new FRM Exam Review courses for the Part I November 2016 exam will make the most of your study time, preparing you to successfully cross the finish line. Authored by expert Christian Cooper, our new courses connect the dots across the curriculum and provide all the…
FRM
Searching for Yield Ahead of a China Slowdown
It is no secret the Federal Reserve will be raising the Fed Funds rate through 2016. The short rate isn’t the only tool at the Fed’s disposal and it will likely begin large-scale reverse repos (Interest Rates [FMP–4]) as an additional tool to drain excess liquidity from the markets.
FRM
What’s Next After $20 Oil and the RMB Devaluation?
Yesterday (January 26, 2016) marked the first significant break from US equities trading in lock step with Chinese indices, even in the face of an overnight drop of over 6% on the Chinese Hang Seng index (Describe how equity correlations and correlation volatilities behave throughout various economic states [MR-8]). What most talking heads on CNBC…
FRM
Free Caterpillars and Slaughtered Unicorns
Two significant events happened this week that the market has yet to fully price in. “NIRP” is rapidly becoming the acronym du jour alongside “QE” and “TARP”. NIRP stands for “negative interest rate policy”, and Japan is the latest country to see the writing on the way: global demand is on the verge of collapsing…
FRM
Alarm Bells: CMBS, OIS and Liquidity Spreads
As of January, manufacturing, industrial, and employment data all paint an increasingly bleak picture for economic growth in the United States. The winning trade for 2016 may be just to try and stay even. (Learning Objective: Explain how a country’s position in the economic growth life cycle, political risk, legal risk, and economic structure affect…
FRM
Draghi’s Bazooka Is Not Enough
On Wednesday, March 2nd, 2016 I published a piece in Business Insider arguing there is large segment of unpriced risk that only the Bank of International Settlements (BIS) in Geneva is able to see. My argument then was there is extraordinary stress in the currency swap lines extended by central banks to other central banks, both large…
