Finance

Libra is the Future of Money

The post about what Libra is; most of all, what it not.

The sad reality of ESG and Hashtag Activism

Most people are very conscious shoppers. Some people are attracted to the brands; others may be attracted to the bargains. Then others are motivated by the social aspects of a firm and how certain businesses strive to make a positive impact on our society. To a certain extent, we all like Corporate Brands to make positive contributions towards environmental, social, and corporate governance (ESG). For the brands that fall short of their “Corporate Responsibility,” there’s always #CancelCulture.

Option Sensitivities, Formula Proofs, and Python Scripts: Part 1 (Delta)

The following is an general overview of vanilla options partial sensitivities (option greeks). This series will be a continuation of the project Option Payoffs, Black-Scholes, and the Greeks. We've already outlined the necessary terms for understanding Options and the Greeks here. In this post, I will be covering the first greek: Detla ($\Delta$). The delta of an option, $\Delta$, is defined as the rate of change of the option price respected to the rate of change of the underlying asset price:

Elon Musk Has Had Enough Of Your Shit...

Elon Musk's battle against the media sheds new light on the growing distrust on the defenders of democracy.

Chart of the Day: Valuing Telsa Through Credit

Tesla’s 5.3% bonds due in 2025 would be five or six percentage points wider if they traded along regression of B3 and Caa1 rated automotive and industrial bonds, which is worse than the base-case scenario of two or three points wider using a 33% chance the bonds get downgraded by S&P. Technicals have been supported by active buying from T Rowe Price in 1Q, which combined with Franklin Resources owns about 28% of the total issue.

Chart of the Day: 3-Month Bill Bid-To-Cover Ratio Plunges

While demand for US Treasuries remains brisk at primary auctions, the same can hardly be said for the short-end of the market, where moments ago we saw what happens to auction demand in a time of rapidly rising rates. As shown in the chart above, while the yield on the 3 month Bills auctioned off today came in largely as expected at 1.94%, the demand did not, and after an already depressed Bid-to-Cover ratio of 2.