Shadow banking won't give Jamie Dimon a rest
The latest data from the Federal Reserve reveal that bank assets grew by just 2% in 2023, constrained by an evaporation of deposit funding, where volumes were down 2%.
Source: moneycontrol.com
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US Households Lead Treasury Buying Spree, As Basis Trades Hit Record High
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Source: zerohedge.com
Post-Corona balanced budget fiscal stimulus: The case for shifting taxes onto land
Land’s share in economies’ nonfinancial assets equals between 40% and 60%, and in the US currently equals over 50%. This constitutes a very large base for a non-distortionary tax. This column suggests that a 5-percentage point or larger increase in the tax rate on the value of US land, excluding buildings and equipment situated on the land, balanced by decreases in the tax
Source: voxeu.org
Munis quiet ahead of $7.7B new issue slate
Coming off last week's $19.5 million influx of weekly new issues, supply this week is lower as the market watches the Federal Open Market Committee meeting.
Source: bondbuyer.com