BTN is a monthly podcast with host Ethan Heisler, editor-in-chief of The Bank Treasury Newsletter. Listen to interviews with experts on interest rate and liquidity risk, bank accounting and regulation, investment strategy, and balance sheet trends. Hear diverse views on the Fed, the economy, fintech, and other leading concerns for bank treasurers as they navigate through today’s turbulent financial markets.
Available on Apple Podcasts, Spotify, Amazon Music, and Audible.
Ep 6. Bank Treasurers Look Through The Accounting
This month’s newsletter discusses how bank treasurers restructured their underwater bond portfolios last quarter when the 10-year rallied in November and December. It also explains why bank treasurers, most of whom believe they have more to fear from the Fed cutting rates by 300 basis points than raising them, are more hedged for higher rates going into 2024 than they were going into 2023.
Ep 4. BANK TREASURERS SEE UFOS
There are a lot of strange things going on in the bank treasury world, and as always, bank treasurers know to prepare for anything. You have a yield curve that is inverted for the longest time in decades, and where the marginal cost to fund a loan makes it difficult to lend profitably. You have high interest rate volatility as reflected in the MOVE index that, like the inverted yield curve, has persisted for a very long time. None of these things are good for the bank treasury business. But, on the bright side, if you have cash to invest, an overnight risk- free rate from the Fed still cannot be beat, and if you are paid to do nothing, do nothing.