Posts tagged as:


Negative sum cider

July 16, 2009

Nemo and I have been engaged in a very enjoyable debate about zero sum games, and with all this talk of transactions I'm reminded of the following Chelm story (for those unfamiliar, this staple of Yiddish storytelling is a fictional town entirely populated by fools): Two men are transporting a horse cart of apple cider […]

0 comments Read the whole post →

Negative swap spreads

June 2, 2009

Felix Salmon writes about the negative swap spread - a fascinating turn of events. Or at least, it was when the swap spread went negative almost a year ago. The swap spread is the extra amount that an interest rate swap yields over a similar Treasury bond. Typically, a swap yields a few basis points […]

0 comments Read the whole post →