May 2024 - cypherpunks - lists.cpunks.org

$244 Billion of Treasury Debt to Hit the Market Today and Tomorrow as Interest Rates Spike on Ballooning Supply
by Gunnar Larson 30 May '24

30 May '24

https://wallstreetonparade.com/2024/05/244-billion-of-treasury-debt-to-hit-… By Pam Martens and Russ Martens: May 29, 2024 ~ When Federal Reserve Chairman Jerome Powell held his press conference on May 1 to explain the Fed’s latest policy actions, more than a dozen reporters showed up to ask questions. Those reporters came from every major business news outlet. (See transcript here.) But on the same date, when the U.S. Treasury’s Assistant Secretary for Financial Markets, Josh Frost, conducted a press conference to announce the details of the Treasury’s plans to issue $125 billion in Treasury debt securities (quarterly refunding), only one reporter from Bloomberg News showed up to ask questions. (See the awkward video at this link.) Perhaps the U.S. Treasury needs to hire a strong arm like Michelle Smith, Director of Communications at the Fed for the past 23 years, to oversee its press conferences. Or, perhaps a lighter touch would be more welcome. Then again, maybe the U.S. Treasury would rather not call attention to its ballooning issuance of debt. In addition to the giant pile of debt securities that the U.S. Treasury issues in its quarterly refunding operations, the Treasury also holds ongoing auctions of debt. (See what is being auctioned by the Treasury today and tomorrow on the above chart.) These auctions will come directly on the heels of the debt markets gagging on $70 billion of a 5-Year U.S. Treasury Note auction and $69 billion in a 2-Year Treasury Note auction – both held yesterday. Treasury yields spiked across the board yesterday, including on the benchmark 10-year Treasury, on the increased supply and in anticipation of more supply about to hit the market. The additional $244 billion in Treasury debt set to be auctioned today and tomorrow is likely to send more shivers through debt markets as well as in the corner offices of the megabanks on Wall Street. As the chart below shows, the publicly-traded shares of all five megabanks that hold trillions of dollars in interest rate and credit derivatives closed in the red yesterday. Those megabanks are JPMorgan Chase (JPM); Citigroup (C); Bank of America (BAC); Goldman Sachs (GS); and Morgan Stanley (MS). Not only do these megabanks hold massive bets on the direction of interest rates via their derivative holdings but their securities divisions are also contractually obligated to buy Treasuries at each auction as part of being a “Primary Dealer” to the Fed. JPMorgan Chase and Goldman Sachs are two of the 30 stock components of the Dow Jones Industrial Average (DJIA), lending a disturbing twist to the definition of “industrial.” The Dow closed in the red to the tune of 216.7 points yesterday while the NASDAQ (COMP), stuffed with tech highfliers reminiscent of the dot.com bubble of the late 90s, closed above 17,000 for the first time. Throwing gasoline on the interest rate spike were comments made by Minneapolis Fed President Neel Kashkari in a CNBC interview yesterday. Those comments were released in the wee hours of Tuesday morning – well in advance of the Treasury Note auctions. Kashkari said Fed interest rate hikes should not be ruled out. The megabanks and the debt markets have been eagerly anticipating interest rate cuts by the Fed. At 9:24 a.m. this morning, six minutes before the stock market is set to open, Dow futures were down 252 points, suggesting more spill out ahead from the Treasury debt supply overhang.

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Goldman Sachs Raises Over $20B For Direct Lending Strategy
by Gunnar Larson 30 May '24

30 May '24

Goldman Sachs Raises Over $20B For Direct Lending Strategy <https://www.law360.co.uk/financial-services-uk/articles/1841872?nl_pk=a94fc…> By Jade Martinez-Pogue Goldman Sachs Alternatives, advised by Fried Frank Harris Shriver & Jacobson LLP, revealed Wednesday that it clinched its latest senior direct lending fund after securing $13.1 billion from investors, and that together with other money raised for associated vehicles it has over $20 billion in fresh capital to put toward its direct lending strategy. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1841872?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1841872?nl_pk=a94fc…>

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Re: Morning Spam
by Undiscussed Groomed for Male Slavery, One Victim of Many 29 May '24

29 May '24

"you use your influence algorithms to traffick fbi agents?" "yeah i don't know what an fbi agent does so i just have them flash their badges around a lot"

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Fwd: Funding partnership with CLientEarth
by Gunnar Larson 29 May '24

29 May '24

Now in May 2024, between UN.org, WorldBank.org and ClientEarth.org, today it is evident that xNY.io - Bank.org is light-years ahead of our peers. We will engage our position in global makets for good for all nations and peoples. Gunnar ---------- Forwarded message --------- From: Support Us <supportus(a)clientearth.org> Date: Tue, May 3, 2022, 10:12 AM Subject: RE: Funding partnership with CLientEarth To: Gunnar Larson <g(a)xny.io> Dear Gunnar. Thank you for wanting to reach and connect with ClientEarth. Unfortunately the team you would need to connect with do not currently have capacity at this time. They will keep your details on file for future and can hopefully connect at a later date. Best wishes. *Kriss Atkin* Development Administration Assistant [image: ClientEarth_lockup_black] t. +44(0)303 050 5991 ClientEarth, The Joinery, 34 Drayton Park, London, N5 1PB [image: cid:image004.png@01D65A06.292F2EF0] *Website* <https://www.clientearth.org/>* | **Facebook* <https://www.facebook.com/ClientEarth>* | **Twitter* <http://www.twitter.com/clientearth>* | **Instagram* <https://www.instagram.com/clientearth_/?hl=en>* | **LinkedIn* <https://www.linkedin.com/company/clientearth> *From:* Gunnar Larson [mailto:g@xny.io] *Sent:* 28 April 2022 13:29 *To:* Support Us <supportus(a)clientearth.org> *Subject:* Re: Funding partnership with CLientEarth Dear Kriss: Thank you for reaching out. Bank.org is working on a project similar to your Shell board dispute. We wanted to reach out and introduce ourselves. Would there be a good time to connect? Thank you, Gunnar -- *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001 On Thu, Apr 28, 2022 at 5:35 AM Support Us <supportus(a)clientearth.org> wrote: Dear Gunnar, Thank you so much for getting in touch, we are so grateful that you would like to know more about partnering with ClientEarth. We really appreciate your request, if you can send us details of your proposal we would love to review in line with our corporate partnership policy. Once we have reviewed this opportunity we will contact you again regarding your donation. Please do feel free to let us know of your latest environmental policy or if your company currently holds any environmental ISO certificates, as this would greatly expedite our review process. As you know, ClientEarth works to stop climate change and pollution, protect and restore habitats, wildlife and natural resources, as well as empowering people and promoting the rule of law. If you would like to find out more about our work, you can find the latest news on our website <https://www.clientearth.org/> or you can sign up to our email newsletter <https://www.action.clientearth.org/sign-clientearths-newsletter/?_ga=2.2608…>. Please contact me if you have any further questions or queries and I will be happy to help. Best wishes. *Kriss Atkin* Development Administration Assistant [image: ClientEarth_lockup_black] t. +44(0)303 050 5991 ClientEarth, The Joinery, 34 Drayton Park, London, N5 1PB [image: cid:image004.png@01D65A06.292F2EF0] *Website* <https://www.clientearth.org/>* | **Facebook* <https://www.facebook.com/ClientEarth>* | **Twitter* <http://www.twitter.com/clientearth>* | **Instagram* <https://www.instagram.com/clientearth_/?hl=en>* | **LinkedIn* <https://www.linkedin.com/company/clientearth>

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Cathy Wood needs killing ( My 2 TON at today's strike )
by pro2rat＠yahoo.com.au 29 May '24

29 May '24

Target has moved from Vichy style suit type to a clear and present danger. Her moves to prop up fascist police state El Slavador and buy into the latest infamous and unholy attempt to build a Cyberdyne Systems style SKYNET array mean she how represents an acute and imminent threat. Her ARK investments vehicle also doesn't just threaten cryptoanarchy and most people in Bukkakes kingdom. It threatens all intelligent life on earth. She's got to go

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BREAKING: FTX Exec Who Acted As Bankman-Fried 'Tool' Gets 7.5 Years
by Gunnar Larson 29 May '24

29 May '24

BREAKING: FTX Exec Who Acted As Bankman-Fried 'Tool' Gets 7.5 Years <https://www.law360.com/banking/articles/1841289?nl_pk=feb6bbba-7878-4d39-be…> By Pete Brush A Manhattan federal judge on Tuesday hit crypto-finance expert and former FTX executive Ryan Salame with a 7.5-year prison sentence for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder Sam Bankman-Fried. Read full article » <https://www.law360.com/banking/articles/1841289?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1841289?nl_pk=feb6bbba-7878-4d39-be…>

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PIMCO Says It Needs To Assess CFPB's Loan Service Deal
by Gunnar Larson 29 May '24

29 May '24

PIMCO Says It Needs To Assess CFPB's Loan Service Deal <https://www.law360.com/compliance/articles/1841098?nl_pk=ab5ce197-c1fb-4d8e…> By Sydney Price Investment management giant PIMCO told a Pennsylvania federal judge on Friday that it needs more time to study a proposed $5 million settlement between the Consumer Financial Protection Bureau, a Pennsylvania student loan servicer and multiple student loan trusts, saying its funds are invested in the trusts and may need to consent to the deal. Motion attached | Read full article » <https://www.law360.com/compliance/articles/1841098?nl_pk=ab5ce197-c1fb-4d8e…> | Save to favorites » <https://www.law360.com/compliance/articles/1841098?nl_pk=ab5ce197-c1fb-4d8e…>

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Insurer Owes Coverage For School Defect Claim, Builder Says
by Gunnar Larson 29 May '24

29 May '24

Insurer Owes Coverage For School Defect Claim, Builder Says <https://www.law360.com/insurance/articles/1840636?nl_pk=59612751-8689-4b1e-…> By Hope Patti A general contractor told a Washington federal court it is entitled to coverage under a subcontractor's commercial general liability policy with a Liberty Mutual unit for defects and damage that a school district alleges was caused by the subcontractor while working on a school expansion project. Complaint attached | Read full article » <https://www.law360.com/insurance/articles/1840636?nl_pk=59612751-8689-4b1e-…> | Save to favorites » <https://www.law360.com/insurance/articles/1840636?nl_pk=59612751-8689-4b1e-…>

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Insurer's Coverage Suit Premature, Ga. Apt. Complex Says
by Gunnar Larson 29 May '24

29 May '24

Insurer's Coverage Suit Premature, Ga. Apt. Complex Says <https://www.law360.com/insurance/articles/1840192?nl_pk=59612751-8689-4b1e-…> By Ganesh Setty An apartment complex facing negligence claims over a shooting told a Georgia federal court that its insurer's suit seeking to avoid coverage must be tossed, arguing that without any factual findings in the underlying state court action, any finding on the insurer's duty to indemnify would be premature. Motion attached | Read full article » <https://www.law360.com/insurance/articles/1840192?nl_pk=59612751-8689-4b1e-…> | Save to favorites » <https://www.law360.com/insurance/articles/1840192?nl_pk=59612751-8689-4b1e-…>

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Alabama Judge Says Attys Subverted Plumbing Defect Deal
by Gunnar Larson 29 May '24

29 May '24

Alabama Judge Says Attys Subverted Plumbing Defect Deal <https://www.law360.com/legalethics/articles/1840713?nl_pk=153d4a8a-6fb9-4a5…> By Emily Lever In an effort to safeguard the due process rights of hundreds of homeowners, an Alabama federal judge has tossed out more than 300 settlement class "opt-outs" and partially reopened the objection period in a product liability suit, determining that outside attorneys repeatedly misled clients regarding the pending settlement, leading to the numerous exclusion requests. Opinion attached | Read full article » <https://www.law360.com/legalethics/articles/1840713?nl_pk=153d4a8a-6fb9-4a5…> | Save to favorites » <https://www.law360.com/legalethics/articles/1840713?nl_pk=153d4a8a-6fb9-4a5…>

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