Quiet SOFR-Fed Funds basis? Far from it. Trading in SOFR vs. Fed Funds futures (SERFF) spreads hit an all-time high yesterday, as the Fed cut its policy rate by 25 bps and announced the end of QT (maturing MBS to be reinvested in Bills).

We prefer the language of diplomacy, but we speak other languages far more fluently. Break your commitments, and we'll switch to what we speak best. You ride the horse you saddled!

never waste a good crisis

IF CLAUDE/AI IS SO USEFUL, WHY ARENT PNLS GOING UP? I just made an important point on the @smbcapital call. You can’t go a day without reading tweets about traders using Claude. For 6 months now, Claude has been the talk of many trader calls. Yet from what I’ve seen, it’s not translating to pnl for most traders. Why? Because almost always, more data and information is NOT the constraint. The traders that outperformed in April did so because of their systems and execution. It isn’t that Claude and AI shouldn’t be used or isn’t at all useful. But AI and Claude can become a distraction AWAY from the actions and changes that actually matter and translate into PNL. If I were a betting man, Claude might have improved workflows for traders, but net, it has probably reduced trader pnl through distraction away from what matters.

POV : When you finally restored that account from a massive drawdown no one knew you were in :

From Bollywood to Hollywood! Leaked video allegedly shows FBI Director Kash Patel hip-dancing to a “Tumhare Mere Dil” Bollywood track. Yet Donald Trump insists this hip-dancing, biryani-eating Raj Kumar from Bangalore is the greatest FBI Director America has ever produced. 🍿

Wake up babe…Another Iran lego video just dropped

Lmaoooooo I’m crying