By Jerome M. Schneider, Jerry Woytash | Jan 12, 2022 The Maturing of Money Markets: The Mechanization of Liquidity Management Liquidity tiering may provide an attractive alternative as SEC proposals curtail capabilities of money market funds
By Libby Cantrill, Jerome M. Schneider, Jerry Woytash | Aug 30, 2021 A Dizzying Summer in D.C. as U.S. Debt Ceiling Looms Again While Congress makes progress on infrastructure legislation, the specter of another debt-ceiling showdown gives investors cause for concern.
By Jerome M. Schneider, Jerry Woytash | Aug 05, 2021 Fed’s New Repo Facility Should Ease Future Stress, With Caveats We see benefits to creating a short-term facility, even if the benefits come later.
By Jerome M. Schneider, William Martinez | Jun 24, 2021 Repressed Repo Rates: Sifting Through the Noise A flood of market liquidity has pressured repurchase agreement rates, prompting some investors to pivot away from traditional forms of cash management.
By Jerome M. Schneider, Marc P. Seidner, Rick Chan, Tiffany Wilding | May 18, 2021 Short-Term Reference Rates at a Crossroads Market participants have been hesitant to accept SOFR as the successor to Libor, but uniting around a single reference rate is increasingly important to keep benchmark markets from becoming fragmented.
By Marc P. Seidner, Jerome M. Schneider, Rick Chan, Tiffany Wilding | Apr 29, 2021 Treasury Issuance Could Aid Adoption of SOFR Benchmark As regulators push to transition away from Libor, sales of Treasuries linked to the successor rate could boost the new benchmark’s credibility and expand nascent markets for related debt and derivatives.
By Jerome M. Schneider, Kenneth Chambers | Apr 27, 2021 Rethinking Cash Holdings to Avoid Near-Zero Yields Cash and cash equivalent investors face challenges balancing liquidity and returns amid near-zero short-term rates.
By Tiffany Wilding, Jerome M. Schneider, Rick Chan | Mar 22, 2021 SLR Expiration: Treasury Markets Likely to Shoulder the Costs The expiration of the temporary SLR changes should enhance the soundness of the banking system, but likely at the cost of Treasury market liquidity.
By Jerome M. Schneider, Kate Lehrkind, William Martinez, Jerry Woytash | Dec 09, 2019 Sponsored Repo: Salve for a Constrained Repo Market, or Potential Funding Destabilizer? The recent repo squall shined a spotlight on “sponsored repo” transactions, a growing segment of the U.S. overnight funding market.
By Jerome M. Schneider, Tiffany Wilding, Del Anderson | Oct 28, 2019 A Shift in Approach Could Help Keep Short-Term Markets Liquid We think there are policy tools in the Fed arsenal that wouldn’t materially alter the soundness of the banking system but could allow cash to move more freely.
By Jerome M. Schneider | Sep 27, 2019 Steering Away From Volatile Markets: Short-Term Bonds May Offer Value As Fed Eases Short-term bonds could rise in price and potentially maintain a high degree of liquidity in response to Federal Reserve rate cuts.
By Jerome M. Schneider, William Martinez, Jerry Woytash | Sep 18, 2019 Repo Rate Spike: A ‘Tail’ Of Low Liquidity Markets can prove interesting when the price of liquidity abruptly increases and high yield is no longer the highest-yielding investment.
By Jerome M. Schneider | May 30, 2019 Quick Takes: Can De-Risking Portfolios Support Returns Too? For investors looking to earn income and de-risk portfolios, short-term investments may be an attractive opportunity.
By Jerome M. Schneider, Tina Adatia, Kenneth Chambers | May 06, 2019 Repos: A Fresh Look at a Key Driver of Short-Term Returns It’s time to pay attention to repos, the building blocks of return for many short-term strategies.
By Courtney Garcia, Jerome M. Schneider | May 02, 2019 The Future Without Libor, Part II: How Will Non-Derivative Markets Transition to Alternative Rates? As the transition away from Libor (the London Interbank Offered Rate) as the industry-preferred floating-rate benchmark continues, many investors are raising concerns about how both new and existing short-term and floating-rate instruments currently indexed to Libor will adjust when Libor is no longer available.
By Courtney Garcia, Jerome M. Schneider | May 02, 2019 The Future Without Libor, Part I: Transition Framework for Derivatives Many investors wonder what will happen in their portfolios following the retirement of Libor as the predominant floating-rate benchmark index. The derivative industry, including investment managers, is preparing for the transition, though uncertainties remain.
By Jerome M. Schneider, Tina Adatia, Kenneth Chambers | Mar 12, 2019 Balancing Act: Maintaining Liquidity and Purchasing Power with Short-Term Bonds Investors are walking a tightrope today, balancing risk-taking and risk management.
By Jerome M. Schneider, Tina Adatia, Kenneth Chambers | Nov 20, 2018 Packing for the Holidays: Reducing Risk with Short-Term Bonds Markets don’t always take a break during the festive season.
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Aaditya Thakur Abhishek Nadamani Alex Zhou Allison Boxer Andrew Balls Andrew Bosomworth Andrew DeWitt Andrew T. Wittkop Anmol Sinha Annisa Lee Beth MacLean Bryan Tsu Carol Liao Chee Yang Lam Chris Brightman Christian Stracke Christopher Youssef Courtney Garcia Daniel H. Hyman Daniel J. Ivascyn David Forgash David Hammer David L. Braun Emmanuel Roman Emmanuel S. Sharef Erin Browne Eve Tournier Frank Chen Gavin Power Gene Frieda Geraldine Sundstrom Giang Bui Greg E. Sharenow Ismael Orenstein Jamil Baz Jerome M. Schneider Jerry Woytash Joachim Fels John M. Devir John Mullins John R. Cavalieri Josh Davis Joshua Anderson Julie P. Callahan Kenneth Chambers Ketish Pothalingam Konstantin Veit Kristofer Kraus Kwame Anochie Libby Cantrill Lillian Lin Lorenzo Pagani Lupin Rahman Marc P. Seidner Mark R. Kiesel Matthew Livas Mike Cudzil Munish Gupta Nathan Chiaverini Nicola Mai Normane Gillmann Peder Beck-Friis Philippe Bodereau PIMCO Pramol Dhawan Ray Huang Rick Chan Robert Mead Ryan Murphy Sabeen Firozali Sachin Gupta Samuel Mary Scott A. Mather Sean McCarthy Sonali Pier Stephen Chang Steve A. Rodosky Tania Bachmann Taosha Wang Tiffany Wilding Tina Adatia Tomoya Masanao Tony Crescenzi Vinayak Seshasayee Vinicius Silva William Martinez Yacov Arnopolin Yi Qiao Yishan Cao
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