See our related article here: https://open.substack.com/pub/tek2day/p/recessions-happen-when-fed-funds?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Watch the video version of this episode here: https://youtu.be/9ZaFtnJaD58?feature=sharedRead the related TEK2day article here: https://open.substack.com/pub/tek2day/p/there-is-nothing-magical-about-the?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

View the YouTube version of this episode here: https://youtu.be/vXVAWgm8Ghs?feature=sharedRead the related TEK2day article here: https://open.substack.com/pub/tek2day/p/adobe-creative-cloud-is-not-growing?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

View the YouTube version of this episode here: https://youtu.be/r4spPWX9U1Q?feature=sharedRead the related article here: https://open.substack.com/pub/tek2day/p/worst-case-for-the-economy-and-markets?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

See the YouTube version of this episode here: https://youtu.be/nlt71a6dnVI?feature=sharedRead the full article here: https://open.substack.com/pub/tek2day/p/fed-discount-window-borrowing-increased?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Watch the YouTube version here: https://youtu.be/jVcaKYGK_V0?feature=sharedTEK2day による

Watch the YouTube version here: https://youtu.be/hSyrR5uZSUw?feature=sharedRead our related article here: https://open.substack.com/pub/tek2day/p/which-companies-are-generating-meaningful?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Unknowable outcomes bring Gen AI’s ROI into question.TEK2day による

The video version of this podcast is here: https://youtu.be/B1mF-zqklZY?feature=sharedOur related TEK2day article: The LLM Space Is Richly Valued Thanks To The Fed: https://open.substack.com/pub/tek2day/p/the-llm-space-is-richly-valued-thanks?r=1rp1p&utm_campaign=post&utm_medium=webRelated video: https://youtu.be/6g8Qi9AnjuM?feature=shared…

View the video episode here: https://youtu.be/mOs873KLA8U?feature=sharedTEK2day による

View the video version of this podcast episode here: https://youtu.be/Zd30vLlKyJ8?feature=sharedRead the related article here: https://open.substack.com/pub/tek2day/p/execute-your-buyback-when-the-stock?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

View the YouTube version of this podcast episode here: https://youtu.be/AbOfProg-AM?feature=sharedTEK2day による

View the YouTube version of this episode here: https://youtu.be/qaDYZSiKdFQ?feature=sharedTEK2day による

View the YouTube version of this episode here: https://youtu.be/REdvTVVVrr4?feature=sharedTEK2day による

The video version of this episode may be found here: https://youtu.be/S3dXXtRGabc?feature=sharedTEK2day による

Fed Chair Jerome Powell needs to channel Dr. No from the James Bond series. Powell needs to say “no” more often in order to help maintain the United States’ fiscal solvency (the U.S. of course is insolvent).Banks, CRE owners, PE firms, institutional and retail investors and of course the political class will all soon be clamoring for Powell to ease…

Ep. 473: FOMC Press Conference Reaction by TEK2dayTEK2day による

Here is the related TEK2day article: https://open.substack.com/pub/tek2day/p/the-jobs-picture-is-not-rosy?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Weekly Update: Bank Term Funding Program: https://tek2day.substack.com/p/weekly-update-bank-term-funding-program-1d3TEK2day による

Weekly Update: Bank Term Funding Program: https://open.substack.com/pub/tek2day/p/weekly-update-bank-term-funding-program-9a7?r=1rp1p&utm_campaign=post&utm_medium=webThe Fed’s Balance Sheet Reduction (QT) Update: https://open.substack.com/pub/tek2day/p/the-feds-balance-sheet-reduction-cd4?r=1rp1p&utm_campaign=post&utm_medium=web…

Related TEK2day article: "The NFL Is Making A Strategic Mistake:"https://open.substack.com/pub/tek2day/p/the-nfl-is-making-a-strategic-mistake?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Here is our related TEK2day article: https://open.substack.com/pub/tek2day/p/bofas-unrealized-losses-taper?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Here is the YouTube video I referenced: https://youtu.be/A2aoS00Wqog?feature=sharedHere is our related TEK2day article: https://open.substack.com/pub/tek2day/p/the-second-tier-media-companies-are?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Subscribe to our YouTube channel here: https://www.youtube.com/@TEK2dayWe cover recent TEK2day articles around CPI, the Bank Term Funding Program (BTFP) and stagflation. CPI: Prices Will Remain Stubbornly High Unless Unemployment Increases: https://open.substack.com/pub/tek2day/p/cpi-prices-will-remain-stubbornly?r=1rp1p&utm_campaign=post&utm_mediu…

Subscribe to the YouTube version of the podcast here: https://www.youtube.com/@TEK2dayThe article I reference is here: https://open.substack.com/pub/tek2day/p/jobs-data-if-the-government-says?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Most of today’s GenAI economics is at the infrastructure layer – whether it be money paid for AI chips, or money invested in the development of large language models (LLMs) or money paid for the right to license LLMs for inclusion in various applications. However, we are not at the point where users are demanding that various applications incorpora…

Some thoughts about 2024:Companies will provide conservative 2024 outlooks when they report Q4 results later this month and early next month.The Fed will likely renew its Bank Term Funding Program, further backstopping bank balance sheets against unrealized losses.The Fed will reinflate bond prices and asset prices in general as it cuts rates and e…

The Fed won’t allow the BTFP to expire on March 11th without first re-inflating the bond market.The banking industry had $684 billion of unrealized losses on the books at the end of Q3. Bank of America alone had $132 billion of unrealized losses on held-to-maturity securities, $107 billion of which were mortgage-backed securities at a yield of 2.12…

Economic conditions are deteriorating. Revenue growth will slow in 2024 and operating margins will be squeezed. 1H 2024 will see conditions deteriorate for most companies. The Fed potentially cutting its Fed Funds rate by 25 BPS in March will not mean squat to companies carrying meaningful amounts of debt, especially high yield issuers. High yield …

There are an infinite number of serious threats posed by Advanced AI. OpenAI founder Sam Altman, OpenAI’s Board of Directors and Microsoft CEO Satya Nadella owe it to the American people (all people for that matter), to fully disclose what it was that Sam Altman lied to his Board about concerning ChatGPT’s capabilities. Mr. Altman going before Cong…

One measure of inflation is to compare growth in the money supply to GDP growth. Money supply growth should not exceed economic growth. When money supply growth exceeds economic growth, that resulting “slack” is inflation. Written another way, inflation exists when the money supply grows faster than GDP. See our related TEK2day article here: https:…

Here is the related TEK2day article: https://open.substack.com/pub/tek2day/p/reflecting-on-the-immorality-of-inflation?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

A follow-up to today’s written article where we cover ODL and Bank liquidity. The article may be found here: https://open.substack.com/pub/tek2day/p/bank-liquidity-is-rising-but-at-what?r=1rp1p&utm_campaign=post&utm_medium=webTEK2day による

Fed Chair Powell and the FOMC run the risk of re-igniting inflation with last week’s dovish commentary. Market conditions have continued to ease since the FOMC meeting and press conference on December 13th. Powell’s Fed may be forced to further tighten monetary policy after loosening last week – a repeat of then Fed Chair Arthur Burns having pulled…

We cover recent TEK2day articles concerning the Fed. Read TEK2day on Substack: https://tek2day.substack.com/p/tek2day-podcast-ep-455-the-fed-unrealizedTEK2day による

Apologies for the several seconds of lost audio. The YouTube version of this episode does not have the audio issue and may be found here: https://youtu.be/FBhCY5nnkDY?feature=sharedThe Fed Is Setting Up A Stagflationary Decade: https://open.substack.com/pub/tek2day/p/the-fed-is-setting-up-a-stagflationary?r=1rp1p&utm_campaign=post&utm_medium=webOur…

Don’t believe the hype around the Fed being well on its way to conquering inflation and achieving a “soft” landing. The Fed did irreparable damage to the economy in 2020, 2021 and 2002 with its ultra-dovish COVID response.See related TEK2day article here: https://open.substack.com/pub/tek2day/p/the-feds-feeble-attempt-to-tame-inflation?r=1rp1p&utm_…

It will be difficult for most streaming services to generate a profit, particularly if interest rates remain elevated. Deep-pocketed technology companies such as Amazon, Apple, Google and Microsoft are well-positioned to reassemble the traditional content bundle as a streaming bundle. Amazon is well ahead of the pack to this end.Recent Related TEK2…

Wages as measured in today’s ADP report are growing faster than inflation as measured by CPI. So why is the economy slowing? The answer is because CPI is understated.Today’s TEK2day article: https://open.substack.com/pub/tek2day/p/bad-economic-news-continues-to-be?r=1rp1p&utm_campaign=post&utm_medium=webToday’s ADP release: https://www.prnewswire.c…

TEK2day Podcast Ep. 450: Disney CEO Bob Iger's Hands Are Full With ESPN by TEK2dayTEK2day による

Follow us at: https://tek2day.substack.comTEK2day による

We cover the Fed, persistent inflation, the looming recession, our 2024 Tech outlook and more.TEK2day による

The overnight reverse repo market (ON RRP) sat at $887 billion last night, down from $2.6 Trillion at the peak on December 30th 2022. As the Fed slowly removes liquidity from the system through QT, Banks and Non-Bank institutions are parking less capital overnight at the Fed. Think of the reverse repo balance as excess liquidity in the system. The …

A Full Bank Deposit Backstop Is ImpossibleThe Fed, Treasury and the FDIC are writing a check they can’t cash. Based on their rhetoric, the three Government organizations have implied that they will backstop all bank deposits. It would be impossible for this unholy triumvirate to do so given the tab could be north of $15 Trillion at the extreme.MORE…

The Fed's actions on Sunday night amounted to a Bail Out / QE as we stated in episode 444. The question is will the Fed slow or halt the pace of its QT program? If so, monetary policy will essentially be squarely back in a QE stance. No chance at getting CPI back down to 2% in the next several years if that were to happen.…

Read our related TEK2day articles:1.) Bail Out: https://tek2day.com/2023/03/13/bail-out/2.) Powell’s Puzzle. Dimon A Winner. https://tek2day.com/2023/03/13/powells-puzzle-dimon-a-winner/3.) Venture Debt & SVB: https://tek2day.com/2023/03/11/venture-debt-svb/4.) Tough Month For Banks: https://tek2day.com/2023/03/10/tough-month-for-banks/5.) The Fed’…

A general catch-up on the looming recession, Tech earnings, Stagflation and more. Buy a copy of our Amazon Kindle book here: https://www.amazon.com/Stagflation-Imminent-Jonathan-Maietta-ebook/dp/B091NB9V7MTEK2day による

A quick review of our recent TEK2day published written content. Learn more at TEK2day.comTEK2day による

Scott Kurland and Dan Pallone of SS&C Technologies (ticker: SSNC), joined the TEK2day Podcast to cover the insurance industry as it relates to insurance carriers investing in alternative asset classes in the pursuit of yield. We recently covered this topic in our TEK2day Spotlight report “THE EVOLVING INSURANCE INDUSTRY” which SS&C was kind enough …

A Win for Intuit. A Loss for Facebook:Intuit (ticker: INTU), recently announced that it had agreed to acquire Mailchimp, the marketing platform used by small and medium-sized businesses (we are a Mailchimp customer). Intuit is in the business of serving the SMB market. Facebook (ticker: FB), also serves SMBs and made a smart acquisition last year (…