Reposted by Dan HingeDom White @domw.bsky.social · 14/09/2026I'm not sure who needs to know this, but the Fed now splits out hedge funds as an institutional class in the Flow of Funds report. So we can now see just how important they've been as buyers of US Treasurys and the answer is ... meh. 34810
Dan Hinge @danhinge.bsky.social · 30/07/2026Not quite the same thing but I believe there are examples where central banks (Peru?) have deliberately injected volatility into FX markets to make traders think twice before placing any bets 331
Dan Hinge @danhinge.bsky.social · 30/07/2026Great stuff from @robarmstrong.bsky.social. I wonder if Warsh is trying something akin to the 'Turkey model' (CBRT circa 2015) - i.e. leaving the policy rate alone to please political masters and meanwhile manipulating market rates to be tighter. www.ft.com/content/fe3f...ft.comKevin Warsh is confusing marketsThe Fed is a player, not a referee 120
Dan Hinge @danhinge.bsky.social · 25/06/2026Surprised to find myself in the top 10% of the FT stockpicking game, with my ESG themed portfolio, "Friedman's nightmare". Games Workshop doing a lot of heavy lifting... 061
Dan Hinge @danhinge.bsky.social · 24/06/2026Excellent reporting by Jen here. Being able to weave a narrative might help Labour sell some of the good things it has done in government (and paper over the dodgy bits). But the flip-floppery is worryingly Starmer-esque. www.ft.com/content/9949...ft.comThe decade that made Andy BurnhamWhat 10 years covering the Manchester mayor’s many reinventions taught me about the man who wants to lead Britain 010
Dan Hinge @danhinge.bsky.social · 23/06/2026@thomas-chow.bsky.social interviewed Sharon Donnery and the ECB has now published the text if you want a free version - one of main things she emphasises is that Europe is diverging from the US on bank regs, though still looking to simplify them www.bankingsupervision.europa.eu//press/inter...bankingsupervision.europa.euInterview with Central BankingEuropean banking supervisors contribute to keeping the banking system safe and sound. European banking supervision comprises the ECB and national supervisors of the participating countries. 020
Reposted by Dan HingeAndrew Sissons @acjsissons.bsky.social · 21/06/2026It seems to have become commonplace to blame net zero for Britain’s high energy bills and/or weak job market… … and I guess I’ll have to explain again why there is very little evidence of this. Britain has plenty of economic problems; net zero is not high on that list (though climate change is) 🧵giftarticle.ft.comEd Miliband would be ‘noose around neck’ of job creation as chancellor, union boss warnsComments by Sharon Graham come as Burnham team explores key government appointments 13524267
Dan Hinge @danhinge.bsky.social · 16/06/2026"What's that on the desk?" "Oh, just a letter from Jay Powell. We get a lot of those." 000
Dan Hinge @danhinge.bsky.social · 08/06/2026This book about Bagehot is quite peculiar and explores all sorts of miscellaneous details of his life, but succeeds in its mission of painting a detailed portrait of a remarkable person. Was fun to read and review: www.centralbanking.com/central-bank...centralbanking.comBook notes: Walter Bagehot: life and legacy, by Janet Seaton and Barry Winetrobe - Central BankingThis slim biography succeeds in its mission of painting a portrait of a remarkable man 031
Dan Hinge @danhinge.bsky.social · 04/06/2026Come work with me! We're looking for a data reporter (/analyst) to work on CB benchmarking apply.workable.com/infopro-digi...apply.workable.comData Reporter - Infopro Digital Services LimitedInfopro Digital, the B2B group specialising in information and technology, is currently looking for a Data Reporter / Analyst on a permanent contract to strengthen the team at its Central Banking enti... 211
Dan Hinge @danhinge.bsky.social · 28/05/2026Our podcasts have been resurrected by my colleague Joasia, who is doing a new series of Tech Talk. So far: Genius act risks and AI use in central banks soundcloud.com/cb-on-airsoundcloud.comCB On AirPodcasts from the Central Banking team 010
Reposted by Dan HingeRob Ford @robfordmancs.bsky.social · 28/05/2026Potentially a very big deal. Changing the Westminster electoral system would fundamentally change our politics. Lesson from other countries is also that once FPP has been ditched it is unlikely to be brought back. 2629576
Dan Hinge @danhinge.bsky.social · 26/05/2026Pretty remarkable story we have today of Georgia's central bank teaming up with Tether to launch a lari stablecoin. Details scant currently on how exactly this will work, but it's a very interesting partnership (with quite a tech-savvy central bank): www.centralbanking.com/fintech/7975...centralbanking.comNational Bank of Georgia to launch stablecoin with Tether - Central BankingGovernor Turnava welcomes investment at regulatory framework launch 121
Reposted by Dan Hingeironeconomist.bsky.social @ironeconomist.bsky.social · 19/05/2026Ok, so, a scenario no one in macro is talking about re oil and Iran is: what if consumers aren’t stupid and front run the expected shock. Then we will see a spike in saving, loss of consumption, and a classic General Theory type demand led recession. 89624
Dan Hinge @danhinge.bsky.social · 18/05/2026Enjoyed writing this one: www.centralbanking.com/central-bank...centralbanking.comBattle of Trafalgar holds lessons on global liquidity – CEPR paper - Central BankingNewly formed BdF struggled to cope with sudden loss of access to dominant currency 100
Dan Hinge @danhinge.bsky.social · 15/05/2026This is an incredible story and must have been hugely satisfying to write after several difficult legal battles www.ft.com/content/edbe...ft.comCrispin Odey and the £79mn libel battle that wasn’tA legal fight revealed the disgraced financier’s thinking — and fresh allegations of misconduct 000
Reposted by Dan HingeAlex Selby-Boothroyd @alexselbyb.bsky.social · 06/05/2026Stagflation www.economist.com/britain/2026... 2436966
Reposted by Dan HingeDan Neidle @danneidle.bsky.social · 29/04/2026UK tax is going to be the highest since 1945. But public spending won't increase; in fact most of us will experience a decline in public services. Here's why - in a thread that I'd love to be completely wrong. 725991
Dan Hinge @danhinge.bsky.social · 27/04/2026I wrote about the ways central banks are getting better at handling risk in monetary policy-making www.centralbanking.com/benchmarking...centralbanking.comDark corners: the renewed push for risk-based monetary policy - Central BankingCentral banks are still struggling to perfect models, scenario analysis and risk communication 020
Dan Hinge @danhinge.bsky.social · 21/04/2026Very interesting inaugural speech from Shin as BoK governor. Planning big things - more focus on financial stability (very BIS-flavoured) and more won internationalisation, as well as an overhaul of how the central bank operates. www.centralbanking.com/central-bank...centralbanking.comShin promotes novel approaches in inaugural address at BoK - Central BankingEx-BIS chief economist formally appointed head of South Korean central bank 100
Reposted by Dan HingeJoseph Cotterill @jsphctrl.ft.com · 08/04/2026“Once... Iran completes its assessment, vessels are given a few seconds to pay in Bitcoin, ensuring they can’t be traced or confiscated due to sanctions”: www.ft.com/content/02ae...ft.comIran demands fees for ships passing Hormuz during ceasefireOil exporters’ union says fees to be paid in cryptocurrency and vessels monitored for weapons 66526
Reposted by Dan HingeGerry Canavan @gerrycanavan.bsky.social · 06/04/2026Adam Roberts follows up on my Redshirts post from last week with one of his own: latestartrek.substack.com/p/star-trek-...latestartrek.substack.comStar Trek: Attrition RatesThe Trekkie shirt is deepest red/It shrouded oft our martyred dead 0114
Reposted by Dan HingeDr Stylite @columnist.bsky.social · 02/04/2026Further to a conversation last night, can AI write a ‘locked room’ mystery story (eg Benoit Blanc etc etc)? 2113
Dan Hinge @danhinge.bsky.social · 01/04/2026"Most respondents were not supportive of the potential introduction of minimum haircuts..." Astonishingly, the hedge funds want to keep their leverage. www.bankofengland.co.uk/paper/2026/d...bankofengland.co.ukEnhancing the resilience of the gilt repo market – discussion paper feedback statementThis feedback statement provides a summary of the responses to the September 2025 discussion paper ‘Enhancing the resilience of the gilt repo market’ and outlines how the Bank intends to progress this... 121
Dan Hinge @danhinge.bsky.social · 30/03/2026Kinda weird to me that Miran wants to try all sorts of gimmicks to allow the market to cope with $2tn less reserves, but doesn't want the Fed to go back to a scarce reserve framework www.centralbanking.com/central-bank...centralbanking.comShrinking Fed’s balance sheet a ‘solvable challenge’ – Miran - Central BankingCentral bank can shed $2 trillion off ledger without hitting scarce reserves threshold, governor says 121
Reposted by Dan HingeDuncan Weldon @duncanweldon.bsky.social · 28/03/2026www.ft.com/content/4f09... Genuinely hard to overstate how much of a strategic defeat it would be for the United States if the war ends with effective Iranian control of the Strait. 473233881
Reposted by Dan HingeHannah Fearn @hannahfearn.bsky.social · 24/03/2026Are you a young person who wants to be a journalist? Go from built environment and housing expertise to... anywhere you want! I went up to comment editor of 2 national newspapers (and now do all sorts for everywhere) Here's your brilliant first step: www.journoresources.org.uk/job/ibp-summ...journoresources.org.ukIBP Summer Internship Scheme 2026 - International Building PressPays National Living Wage or London Living Wage (if in London). 01012
Reposted by Dan HingeGiles Wilkes @gilesyb.bsky.social · 23/03/2026I am beginning to wonder if this is a big error. This is not 2022, there isn't a gallon-load of demand-fuel in the system, history doesn't always repeat or even rhyme. Policy needed tightening then becaus NGDP growth was way outside its good range. Now it is where it should be ... 3299
Dan Hinge @danhinge.bsky.social · 16/03/2026Helene Rey is taking over from Hyun Shin at the BIS www.bis.org/press/p26031...bis.orgHélène Rey appointed as Economic Adviser and Head of Monetary and Economic DepartmentHélène Rey, Professor of Economics at London Business School, appointed as Economic Adviser and Head of the Monetary and Economic Department of the BIS. Ms Rey is appointed for a five-year term, effec... 151
Reposted by Dan HingeJustin Wolfers @justinwolfers.bsky.social · 13/03/2026HUGE (and GOOD) news: Federal court has thrown out the President's attempt to throw the Fed Chair in jail. 431083264
Dan Hinge @danhinge.bsky.social · 12/03/2026Eddie Yue and the fraudster bananas - www.centralbanking.com/awards/79752...centralbanking.comCommunications initiative: Hong Kong Monetary Authority - Central BankingInnovative campaign supported by top leadership has helped counter rising levels of financial scams 010
Dan Hinge @danhinge.bsky.social · 12/03/2026I rounded up the story so far on possible financial instability from the Iran conflict yesterday. Besides a few trades going bad there's not much sign of trouble yet. As always things can spiral quickly though, a risk that grows if the strait stays shut www.centralbanking.com/central-bank...centralbanking.comNo signs yet of war triggering financial distress, analysts say - Central BankingMarkets have been orderly so far, but picture could change if Strait of Hormuz remains shut 011
Reposted by Dan HingeRobert Smith @bondhack.ft.com · 12/03/2026Faced with a financial scandal that has ensnared some of the biggest names on Wall Street, I made the obvious move: catching a tube to the end of the Northern Line to eat a fry-up in a greasy spoon. Shoe-leather (and antacids) reporting on Market Financial Solutions here: www.ft.com/content/c522...ft.comWe visited the greasy spoon owned by MFS’s auditor (with a mortgage from MFS)Eating a fry-up for breakfast in the name of investigative journalism 823440
Dan Hinge @danhinge.bsky.social · 12/03/2026I'm late to Shin's (very good) tokenisation = fragmentation paper. One interesting implication is that it seems it will be very difficult for any stablecoin to become systemically important, at least on the basis of size (though maybe interconnectedness?) www.bis.org/publ/work133...bis.orgTokenomics and blockchain fragmentationMoney is a coordination device underpinned by strong network effects: the more others accept a form of money, the more I wish to adopt it too. The decentralisation agenda of public permissionless bloc... 100
Reposted by Dan HingePaul J Davies @pauljdavies.bsky.social · 10/03/2026Stablecoins, even less useful than you thought! via @tobyn.bsky.social Stablecoin = Fracturedcoin www.ft.com/content/4724...ft.comStablecoin = FracturedcoinIf stablecoins are the future of money, the BIS reckons the future looks a bit rubbish 182
Dan Hinge @danhinge.bsky.social · 22/02/2026Fun fact, Central Banking used to be based in Soho, in our more bohemian youth (2012) 121
Reposted by Dan HingeNick Timiraos @nicktimiraos.bsky.social · 21/02/2026Hassett retracts his admonition of the Fed economists: “The Fed’s independence extends to its research. It and it alone must decide what research to conduct to further its mission. The authors of this study are all excellent economists.” larrykotlikoff.substack.com/p/kevin-hass... 8496
Dan Hinge @danhinge.bsky.social · 20/02/2026Really interesting. US graduates earn a huge amount more, despite similar skills at graduation, because they are graduating into a much more productive economy 021
Reposted by Dan HingeSarah O'Connor @sarahoconnorft.ft.com · 20/02/2026Such a good piece today from @jburnmurdoch.ft.com which shows that the declining graduate premium is very much a UK problem rather than a general (or inevevitable) consequence of more people going to uni www.ft.com/content/649d... 1020280
Reposted by Dan HingeKarthik Sankaran @rajakorman.bsky.social · 18/02/2026And as front end interest rates (i.e., vig) fall, the incentive structures for stablecoin issuers to be somewhat more cavalier about both their assets and their liabilities (KYC etc) increase. 154
Dan Hinge @danhinge.bsky.social · 18/02/2026Interestingly hard to design a stable stablecoin that works as money. E.g. you back it fully with unremunerated reserves - oh dear, the business fails. Or you put on redemption gates - oh dear, it's not money any more. 273
Reposted by Dan HingeKarthik Sankaran @rajakorman.bsky.social · 18/02/2026Also bsky.app/profile/raja... 001
Dan Hinge @danhinge.bsky.social · 18/02/2026I spoke with Marco Gross from the IMF about his work on how stablecoins might start to impact the structure of government bond markets www.centralbanking.com/central-bank...centralbanking.comEconomists warn of emerging ‘sovereign-stablecoin nexus’ - Central BankingResearchers model regulatory options as stablecoins become intertwined with core markets 100
Dan Hinge @danhinge.bsky.social · 11/02/2026If my back-of-the-envelope maths is right, the bitcoin crash this year has wiped out about a third of Tether's net equity. Have I got a decimal place wrong? That seems nuts. Latest disclosure data here: tether.to/en/transpare...tether.toTether – Official Home of TetherTransparency 111
Dan Hinge @danhinge.bsky.social · 04/02/2026Super interesting FSB report out today with data on the repo market. Check out those haircuts - nearly three quarters at zero and 7% negative. Fill yer boots, as much leverage as you like! www.fsb.org/uploads/P040... 041
Reposted by Dan HingeNaomi Alderman @naomialderman.bsky.social · 25/01/2026this is not about current events. it's a bit about Hamnet and a lot about how hard it is to write about things that are too tender and sacred for language, and how the internet of video might make harder. it's just about art, if you want some art today. naomialderman.substack.com/p/we-have-th...naomialderman.substack.comwe have that within which passes showon the post-literate world, the crassness of language and why Hamnet was always going to be hard to film. plus! what is 'just enough internet'? and the stationery renaissance 86316
Reposted by Dan HingeStephen Bush @stephenkb.bsky.social · 20/01/2026Mark Carney's speech really is terrific: full text is here and very much worth your time.paulwells.substack.comThe Carney doctrineOpen comment thread on the PM's Davos speech 741959682
Reposted by Dan HingeClaudia Sahm @claudia-sahm.bsky.social · 12/01/2026Powell‘s words are clear and chilling. The Fed can’t defend itself from the White House. The Senate and the courts will have to step up. Will they? 1127868