Mutual funds own 1/6 of US corporate bonds. They perform maturity transformation by offering daily redemption despite holding assets that are quite illiquid, particularly in a run. Fed forced to step in. Point of emphasis in new Fed FSR.
federalreserve.gov/publications/f… https://t.co/DZLniMJaRN
Fancy a quick MLK day seminar on China 2020? Read @S_Rabinovitch and @michaelxpettis threads back to back. twitter.com/S_Rabinovitch/…
Laschet is not Merz -> better fit than a Black-Green coalition. BUT he is not Roettgen either -> Laschet’s middle of road business-CDU approach to
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