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Beware of European gloating over the US banking mess
UK banks have seen the same shift in deposit composition
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Meyrick Chapman
2
Ebb Tide
Rebuilding the Treasury General Account will drain liquidity and bring Fed pivot forward
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Meyrick Chapman
International flow vs. domestic ebb
Fall in the dollar may be helping equity markets
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Meyrick Chapman
Divert/distract
An (ex)central bankers guide to ill-conceived remedies for policy errors
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Meyrick Chapman
Oil, Containers and Wealth
Trade flows don't tell you where capital is invested
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Meyrick Chapman
April 2023
Reasons to be Cheerful
Money, a lower dollar and risky assets.
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Meyrick Chapman
In Defence of the Dollar
My friend, and Elliott alumni, Jay Newman and I wrote a piece for POLITICO on the dollar.
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Meyrick Chapman
2
And None of the Piggies Go to Market
Competition for Fed liabilities is mounting, and will constrain credit, and risk assets
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Meyrick Chapman
The Fed, the Law and Deposit Flight
Time to revisit the boundaries of 'extraordinary policy'
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Meyrick Chapman
4
Unfair competition?
The Fed's credit-enhanced gift to flighty depositors, the RRP, needs attention.
 • 
Meyrick Chapman
5
March 2023
© 2023 Meyrick Chapman
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