"the big question for me being whether storage can allow solar to keep growing" - this would be a good one to understand because if there is a business case for mass solar adoption (for example Tony Seba's claim that distributed solar+batteries will be cheaper than any kind of grid-supplied power by 2030) then there is deep value in some parts of the solar manufacturing chain. The contrary case is that even if solar panels and batteries are free, other associated costs are mature costs that will if anything increase with time https://schlanj.substack.com/p/even-if-solar-panels-and-batteries. The two views are talking about different things - distributed solar versus grid solar - so I'm not sure which is right.
The treasury basis trade is the equivalent of a term repo, not really anything to do with the Move index which is a measure of short dated bond volatility. Cheers.
About the Cayman Islands Treasuries report: we've been told for awhile that "China is selling its Treasuries". In fact, they've been moving some of them to different custodians who 1) do reports as "owned by China", and 2) have more ability to buy&sell in the world market.
Hello! I just launched my substack. I am trying to get my audience growing. I would love to earn your restack on my KKR deep dive I just wrote. If you like the content I would really appreciate a reshare. God bless you.
Connecting the dots ... I recently listened to a pod that talks about stable coins.
Most of these are apparently based / issued out of the Cayman Island. And I think they are somehow hoovering up treasuries. I don't quite get it (above my pay grade) but it smells like a ponzi kicking the can down the road kind of thing. It could be a long road.
“I hope you’re all having a great week.”
Well I was until I read your piece 🤔
"the big question for me being whether storage can allow solar to keep growing" - this would be a good one to understand because if there is a business case for mass solar adoption (for example Tony Seba's claim that distributed solar+batteries will be cheaper than any kind of grid-supplied power by 2030) then there is deep value in some parts of the solar manufacturing chain. The contrary case is that even if solar panels and batteries are free, other associated costs are mature costs that will if anything increase with time https://schlanj.substack.com/p/even-if-solar-panels-and-batteries. The two views are talking about different things - distributed solar versus grid solar - so I'm not sure which is right.
The treasury basis trade is the equivalent of a term repo, not really anything to do with the Move index which is a measure of short dated bond volatility. Cheers.
About the Cayman Islands Treasuries report: we've been told for awhile that "China is selling its Treasuries". In fact, they've been moving some of them to different custodians who 1) do reports as "owned by China", and 2) have more ability to buy&sell in the world market.
would love your thoughts on some of my stuff. follow me back, I could DM you?
Hello! I just launched my substack. I am trying to get my audience growing. I would love to earn your restack on my KKR deep dive I just wrote. If you like the content I would really appreciate a reshare. God bless you.
Connecting the dots ... I recently listened to a pod that talks about stable coins.
Most of these are apparently based / issued out of the Cayman Island. And I think they are somehow hoovering up treasuries. I don't quite get it (above my pay grade) but it smells like a ponzi kicking the can down the road kind of thing. It could be a long road.
And FB/Meta has also entered into quite a complex (Enronesque) bond issue to build a manhatton sized ai data centre. https://substack.com/home/post/p-178195060
Just finished "the art of spending money" i think his book "the same as ever" goes well with your investment style