Fx traders: there has been a lot of desk talk about LIBOR spreads recently and quite frankly i don’t know what the fuss is about. (A little note, I know i’m guilty about banging on about it too)

In the last two weeks i’ve read 6 stories on Zero Hedge, 8 money market expert opinions, 4 Bloomberg reports, and 12 institutional research takes. The reasons (and pick your) best are: short term paper issuance, repatriation, USD funding shortage, canary in a coal mine credit stress……the list goes on ad infinitum

Three of my take outs:

Spot: NOT BOTHERED

Keep a lazy eye of it because it only matters when it matters.

Keep tuning that noise filter because markets always change.

Patrick Reid

Swapped the TV screens for the trading screens.
Philosophy: "Define your risk, only then can you ignore it"

Read how Patrick got into trading here
Patrick Reid

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