Shorting America: Europe's Financial Leveage over the United States (Kiel Institute)
Europe holds financial leverage: it owns $9.6 trillion in U.S. assets, roughly 1.5 times the $6.4 trillion the U.S…
Currency Management
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The Digital Money Supply (VoxEU)
Nine-tenths of the money in daily circulation has been created by commercial banks. In this week’s episode Tim…
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A Return to Monetarism? (Hudson Bay Capital Management)
Due to the instability of money demand, monetary policy implementation in the United States has held a smaller and…
The Shape of Carry: Construction, Leverage, and Crash Risk Across Currency and Bond Markets
Carry strategies-holding higher-yielding assets financed by lower-yielding ones-earn a persistent premium that…
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