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App Economy Insights
RT @EconomyApp: 🍿 Netflix + Warner Bros. 📊
The $83B deal visualized:
• What Netflix is buying
• The bid vs. Paramount
• Who wins & who loses
• Balance sheet madness
• Vertical vs. horizontal merger👇
https://t.co/dGBendVe7H
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RT @EconomyApp: 🍿 Netflix + Warner Bros. 📊
The $83B deal visualized:
• What Netflix is buying
• The bid vs. Paramount
• Who wins & who loses
• Balance sheet madness
• Vertical vs. horizontal merger👇
https://t.co/dGBendVe7H
tweet
EndGame Macro
What the Fed’s $40B Really Signals…Protect the Plumbing
The $40B in Treasury purchases makes perfect sense once you look past the headline and think about the plumbing. QT just ended, the RRP is basically empty, and that buffer is what used to absorb the impact of all the bill and coupon issuance. Now, every dollar Treasury raises comes straight out of the broader financial system, which means it comes out of bank reserves. Powell isn’t trying to juice the economy here, he’s trying to make sure the pipes don’t run dry. With reserves already drifting toward the low end of ample, the Fed is topping up the system before stress shows up in funding markets, not after.
And April is a large reason why they’re moving early. Tax season pulls a massive amount of cash from private bank accounts into the Treasury General Account, which lives at the Fed. When the TGA fills, reserves fall. Combine that with heavy issuance and no RRP left to act as a buffer, and you get a sharp, predictable drain on liquidity. Instead of risking a 2019 style scramble, the Fed is quietly buying a cushion now. It’s simply the Fed making sure the financial system has enough breathing room to get through the spring without something snapping.
tweet
What the Fed’s $40B Really Signals…Protect the Plumbing
The $40B in Treasury purchases makes perfect sense once you look past the headline and think about the plumbing. QT just ended, the RRP is basically empty, and that buffer is what used to absorb the impact of all the bill and coupon issuance. Now, every dollar Treasury raises comes straight out of the broader financial system, which means it comes out of bank reserves. Powell isn’t trying to juice the economy here, he’s trying to make sure the pipes don’t run dry. With reserves already drifting toward the low end of ample, the Fed is topping up the system before stress shows up in funding markets, not after.
And April is a large reason why they’re moving early. Tax season pulls a massive amount of cash from private bank accounts into the Treasury General Account, which lives at the Fed. When the TGA fills, reserves fall. Combine that with heavy issuance and no RRP left to act as a buffer, and you get a sharp, predictable drain on liquidity. Instead of risking a 2019 style scramble, the Fed is quietly buying a cushion now. It’s simply the Fed making sure the financial system has enough breathing room to get through the spring without something snapping.
BREAKING: Fed Chair Powell says the Fed's purchases of US Treasuries may remain elevated for a "few months."
The Fed will begin purchasing $40 billion worth of Treasuries over the next 30 days.
Purchases come just 12 days after Quantitative Tightening ended. tweet
X (formerly Twitter)
The Kobeissi Letter (@KobeissiLetter) on X
BREAKING: Fed Chair Powell says the Fed's purchases of US Treasuries may remain elevated for a "few months."
The Fed will begin purchasing $40 billion worth of Treasuries over the next 30 days.
Purchases come just 12 days after Quantitative Tightening ended.
The Fed will begin purchasing $40 billion worth of Treasuries over the next 30 days.
Purchases come just 12 days after Quantitative Tightening ended.
Offshore
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Fiscal.ai
Monday is successfully moving upmarket.
40% of their revenue now comes from enterprise customers.
Compared to just 11% five years ago.
$MNDY https://t.co/dO1VbeAQye
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Monday is successfully moving upmarket.
40% of their revenue now comes from enterprise customers.
Compared to just 11% five years ago.
$MNDY https://t.co/dO1VbeAQye
tweet
Offshore
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EndGame Macro
Me scrolling through comments on X that say we have a healthy economy… https://t.co/0sQ83jtM1G
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Me scrolling through comments on X that say we have a healthy economy… https://t.co/0sQ83jtM1G
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Quiver Quantitative
JUST IN: Representative Mark Pocan has signed Rep. Luna's discharge petition to force a vote on a congressional stock trading ban. https://t.co/Nl9NL8WKF8
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JUST IN: Representative Mark Pocan has signed Rep. Luna's discharge petition to force a vote on a congressional stock trading ban. https://t.co/Nl9NL8WKF8
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