Nuclear’s share of US power generation has been flat for a generation. Apparently one wing of the Biden coalition, spearhead by Cory Booker, wants to
They were always at the table: Must read by @DaveKeating on how a Biden Presidency changes US relation to climate diplomacy and how it doesn’t
The Perfect Fascist: A Story of Love, Power, and Morality in Mussolini’s Italy I heard Vicky de Grazia talking about her new book again last
During the critical spasm in US Treasury market in March 2020 customers wanted to sell c. $180bn more in securities than were wanted for purchase.
Open-end mutual funds engage in liquidity transformation because promise one-day redemptions on assets, even when the invested assets have low or uncertain liquidity -> in
"it was not anthropomorphic, but rather angelomorphic! To combat Cartesian tourbillons, Newton had to think of an agent able to transport action at a distance
Prior to Paris agreement, firms in energy sector were significantly less likely to mention climate related themes in corporate earnings calls. Since 2016 the gap
If you own a dog, especially one who has a regular Friday night “pod date” with her boyfriend, you kinda have to read Donna Haraway’s
Read @Brad_Setser on the "absolute failure of bond holders to step up and “voluntarily” contribute to the World Bank’s Debt Service Suspension Initiative” despite urging
Corporate climate talk: mentions of climate related terms have surged in Earnings Call transcripts since Paris, Greta, GND and corona raised awareness of catastrophic risk.
Green monetary policy? In May 2020 Fed purchased $178.4 bn in GSE-backed MBS in a single week. Most of those houses are “brown assets”. What
When you argue for green monetary policy, counter is “neutrality”. But, since New Deal US has maintained a giant subsidy regime to promote homeownership. Why
I love listening to Marilyn Strathern the great anthropologist. Here her lecture at @CRASSHlive on “Taking care of a concept: anthropological reflections on an assisted
Time to redefine America’s idea of a “conforming mortgage”. Set a date by which the GSE will underwrite only houses that meet key energy efficiency
Only 29p for every £1 of capital expenditure on offshore wind farms goes back into UK economy. When development and maintenance spending are taken into
Bank lending has shifted to green firms over the past decade @IMFNews GFSR imf.org/en/Publication… https://t.co/A47OfEj1w3
How the renminbi-dollar rate has swung for last 15 years. Just in case there should be chatter about currency manipulation etc. ft.com/content/b80045… https://t.co/nzZobMsml1
Last night I was wondering whether anyone had ever proposed using GSE to back green-conforming mortgages in the US. GSE are legacies of New Deal/Great
Once a vaccine is granted emergency approval, there is pressure to offer immunization to trial participants who received placebo. But if too many people cross
Green bond issuance dropped in the first quarter of 2020 before picking up again beginning in April 2020. @IMFNews GFSR imf.org/en/Publication… https://t.co/nA3qAG8KJC
RT @alexmarrow57: Red Square this morning, before the snow clearers descended. https://t.co/7IoYJEPFLO
RT @ClausKleber: Just in from the WhiteHouse: Presidential Pardon for Thanksgiving Turkey 2020 verzögert sich. #RudyGiuliani fordert, das…
RT @ForeignPolicy: The firewall between politics and monetary policy has once more been breached, FP’s @adam_tooze writes. https://t.co/FI…
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
Limits on dealer balance sheet capacity were a key factor in March 2020 turmoil. JP Morgan likes to say that this is result of post-GFC
In March 2020 "The reduction in high-speed market-making activity appears to have contributed to the spread of pandemic-related stresses to even the most liquid segments
"evidence that large-scale deleveraging of hedge fund Treasury positions was the primary driver of the turmoil In March 2020 remains weak.” Result of the Fed’s
“due to a lack of comprehensive data on hedge funds’ Treasury positions, it is unclear what actual volume of Treasury sales by RV hedge funds
Whereas the US mortgage market since 2008 is dominated by prime rated borrowers, credit card debt is 50/50 prime v. near prime/subprime. federalreserve.gov/publications/f… https://t.co/mpeOA0XWPv
"Small businesses have been substantially more affected by effects of COVID-19, and strains associated with the performance of small business debt may worsen significantly” Fed
RT @UFWupdates: Mango sap is caustic and burns the skin. There’s a small amount of sap at high pressure near the stem. When the fruit is
Commercial real estate remains a source of worry for the Fed. Lending standards that tightened with a bang in the spring have not eased much
A useful reminder of the relative size of asset markets from Fed’s Nov 2020 Financial Stability Report. Residential real estate is roughly same size as
External debt service through end of 2021 will require > 100% fx reserves for Zambia (in default), Pakistan (in tough negations with IMF) & Ethiopia
The conflict that has exploded in Ethiopia threatens the ability of the region to respond to the dramatic Locust attack. It puts the food security
The shock to energy demand from corona sent prices of EU ETS Co2 emissions allowances down. But since then they have bounced back hard. @IMFNews
© 2025 Adam Tooze. All Rights Reserved. Privacy policy. Design by Kate Marsh.