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تھریڈ:ایکطرف حکومت فسطائیہ ریاستِ مدینہ کا ڈھونگ رچاتےسودی نظام کیخلاف قراردادیں منظورکرتی ھے-
دوسری طرف نسلوں کا مستقلTbillsکی مدمیں13.5٪شرح بیاج پربین الاقوامی ساہوکاروں کےپاس گروی رکھوایاجارھاھے-
حکومتی قرضہ جات کو debt instrument کے زریعے ری فنانس کر کے ڈکیتی مار جا رہی ھے
گذشتہ دس برس میں صرفPMLNکی حکومت نے شرح بیاج کو بتدریج کم کرتے, مہنگائی کو قابواورکاروبار کی حوصلہ افزائی کی. Tbills lکی مدمیں اربوں ڈالر سود کی بیرونی ادائیگیوں کو کم کر کے پیداواری صلاحیت میں اضافہ کی ضروریات کو پورا کرنے کیلئے سرمائے کو کیپتل گڈز کی درمدات کیلئے استعمال کیا
چینی صدرکےدورے سےقبل نیازی نے دھرنےدئے #CPEC کوقرضوں کاشکنجہ قراردیتے- جبکہ 13.5٪ کے مہنگے TBILLS کے برعکس #CPEC کے 2فیصد پر سستے قرضے ملکی تعمیر و ترقی کیلئے اہم سنگ میل تھے- لیکن آج بھی قومِ یوتھ کی مفلوج زندہ لاشیں ان قرضہ جات کو حالیہ معاشی زبوں حالی کا موجب قرار دیتی ہیں
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Expected Value Macro
@EVMacro
Has the #Fed fixed the problem?

No, #repo is still setting higher than Fed Effective
They have managed to bring repo back below their upper target range for EFFR, but so long as repo yields > EFFR, their is an incentive to switch
Will buying TBills fix the problem?

No. Banks are already flattish TBills so they are not adding to the float of collateral that is being financed in the Treasury Repo market.

Banks will simply gobble up all the supply at auctions and flip it to the Fed
Read 20 tweets
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pippocamminadritto
@guado77
l'impulso dalla creazione di quasi 3Trilioni di $ di riserve non spinge in maniera coerente e costante l'elargizione di nuovo credito da parte delle banche US👉NON C'E' DOMANDA
la moneta creata non "gira" come potrebbe/dovrebbe e lo vedi su
-Linea Nera:Inflazione attesa 5y FWD
...perché accade tutto questo?
perché da oltre 10 anno l'unico intento delle CBs è quello di salvaguardare il sistema finanziario come l'abbiamo sempre "conosciuto"...ma che è morto esattamente 11 anni fa...NON SIAMO MAI USCITI DALLA GFC 2008/09 e non usciremo mai in questo modo
...ed oggi vedremo quanto @potus è ricattabile...ha in mano il jolly per affondare EZ e lo DEVE giocare adesso...👽
ansa.it/europa/notizie…
Read 210 tweets
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Funter
@Funter21510910
Germany, yesterday, issued a 30-year bond that offers negative yield (average yield of -0.11%).

This typically means that investors are paying German government to hold their debt. Why would investors invest in such a bond? Thread 1/8
The coupon set on these bonds (or Bunds, as they are called in Germany) is 0% i.e. the government will not pay any interest at all on these bonds.

In comparison, if GoI issues a 30 year bond today, the interest rate offered would be ~7%. 2/8
A negative yield of -0.11% means that an investor in this bond will pay 11 basis points per year to German Govt to borrow the sum i.e. an investment of Rs. 100 in these bonds would yield ~Rs. 97 in 30 years, a loss of ~Rs. 3. 3/8
Read 13 tweets
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Scott Fullwiler
@stf18
1. Quick(?) MMT 101 lesson:

From the very beginning in the 1990s, MMT has NEVER argued that 'printing money' was necessary. Anyone saying MMT = "print money," even if they (correctly) incorporate an inflation constraint, is getting MMT dead wrong.
2. The argument from the earliest days--@wbmosler 's "Soft Currency Economics," Wray's "Understanding Modern Money," or @StephanieKelton 's "Can Taxes & Bonds Finance Govt Spending?"--the MMT argument is that ALL govt deficits are 'printing money' ALREADY (!).
3. These and other foundational, early MMT pieces argue that the choice to issue bonds or not is about monetary policy how to set the CB's interest rate target, not whether to 'finance' a deficit or 'print money.'
Read 25 tweets
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Olúwatósìn Olaseinde
@tosinolaseinde
What's a Treasury Bill?
It's also known as T-Bills
When the government needs money on the short term (< 1 year)

The govt issues this note to the general public and you need a minimum of N50 million to buy directly from the government. (CBN)
That market is called primary market
There is another market called secondary market.

Institutions crowdfund investments from as little as N100,000(minimum) from different players to purchase from CBN (N50 Million limit)

This is where you and I and other people who do not have N50 million YET buy from.
The key feature of T-Bills is that you get the interest payment upfront

So for example if you buy N100,000 TBills for 365 days at 12%

You will get N12,000 upfront
You will then get the N100,000 - capital - at the end of the 365 days
Read 7 tweets
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Money Africa
@themoneyafrica
Have you heard of commercial paper?

Commercial paper is similar to TBills but difference is that it is issued by large corporations with good credit ratings.
Like private sector kind of TBills.

So if a company needs funds,
It can bypass the banks and come to the general public
The commercial are issued as short-term debt/loan.
The duration is no longer than 270 days.

These papers can be readily traded
So that means you can easily get your cash back.

They are issued by large corporations with good credit ratings.
So you're asking what is the risk?

The companies that issue commercial papers are graded.

Meaning, they're rated based on their financial statements, history and risk of them not honouring their promise.

This grading also affects the kind of return they will promise
Read 7 tweets

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