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Top related persons:
Richard Chambers - 2 Goldman Sachs - 2 Davide Barbuscia - 2 Rick Wilking - 1 Christopher Clarke - 1 Gary Gensler - 1 James Tabacchi - 1 Megan Davies - 1
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Treasuries Westminster , Colorado Federal Reserve Bank of New York Carolina U.S New York
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REUTERS - 2 Treasury - 2 Goldman - 2 Thomson - 2 U.S - 1 Industry - 1 repo - 1 North America Sovereign Financing - 1

Search resuls for: "Richard Chambers"


2 mentions found


☆ US Treasury market debate around hedge fund collateral intensifies
  + stars: | 2023-11-21 | by ( Davide Barbuscia Carolina Mandl | Davide Barbuscia | Carolina Mandl | ) www.reuters.com   time to read: +3 min
Industry practice suggests that a large share of hedge funds trading in repo markets put up zero collateral, meaning they are fuelling activity using enormous amounts of cheap debt. A looming rule by the U.S. Securities and Exchange Commission would expand the use of central clearing in the cash Treasury and repo market. SEC chair Gary Gensler recently promoted the benefits of central clearing and pointed to data showing high levels of repo trades transacted at zero haircuts. James Tabacchi, CEO of South Street Securities, called zero haircuts a "race to the bottom" and not healthy for markets. However, some market participants have voiced concerns that some of the proposed reforms could be a hurdle for some investors, potentially undermining the goal to improve liquidity and resilience in the Treasury market.
Persons: Rick Wilking, Christopher Clarke, Gary Gensler, James Tabacchi, Richard Chambers, Goldman Sachs, Davide Barbuscia, Megan Davies, Paritosh Bansal, Sonali Paul Organizations: REUTERS, U.S, Industry, repo, North America Sovereign Financing, Morgan Securities, Treasury, Federal Reserve Bank of New, U.S . Securities, Exchange, Corporation, SEC, . Federal Reserve, South Street Securities, Goldman, Thomson Locations: Westminster , Colorado, Treasuries, Federal Reserve Bank of New York, Carolina
☆ Hedge fund demand for US Treasuries seen rising amid higher bond supply
  + stars: | 2023-09-21 | by ( Davide Barbuscia Gertrude Chavez-Dreyfuss | Davide Barbuscia | Gertrude Chavez-Dreyfuss | ) www.reuters.com   time to read: +4 min
The risk, they have warned, is that large basis positions could once again exacerbate vulnerabilities in the U.S. bond market, which is a linchpin of the world's financial system. "These basis positions with these transformations are going to be a part of the equation because it's a necessary evil to get the capital to meet the demand." Higher supply comes as liquidity in Treasuries has been problematic for most of last year, partially due to rising volatility spurred by the Fed's aggressive rate hiking cycle. But Richard Chambers, global head of repo trading and global co-head of short macro trading at Goldman Sachs, told the trading forum on Thursday that the repo market was now more efficient. "We will have more levered investors buying Treasuries into 2024 and so demand for leverage in Treasuries will increase," he said.
Persons: Dado Ruvic, Joe Biden, Janet, Yellen, Jason Granet, Mark Wendland, ”, Richard Chambers, Goldman Sachs, Davide Barbuscia, Gertrude Chavez, Dreyfuss, Carolina Mandl, Laura Matthews, Matthew Lewis Organizations: REUTERS, Federal Reserve, Bank for International Settlements, Treasuries, Treasury, BNY Mellon, DRW Holdings, Reuters, Goldman, Thomson Locations: U.S, New York, Treasuries
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