A brief introduction to the Masterclass on USD Liquidity
1. I am very pleased to partner with Wallstreetcn to organize a masterclass on US dollar liquidity. The class will take place on Sunday, April 26th, in Shanghai, from morning to evening. For specific course content and registration details, please refer to the poster at the end of this article.
2. To be honest, I do have some reservations about this class. The reason is that this course is an expanded upgrade based on my previous training curriculum for young employees (mainly from the research and asset allocation departments) at the foreign exchange administration. Although I've done my best to simplify the overall content, objectively speaking, the level of expertise required is still quite high. The course will cover a large amount of fundamental knowledge of the US monetary system, central banks, the microstructure of banking markets, and regulatory frameworks, as well as cutting-edge academic research. Therefore, it is more suitable for professionals engaged in global macro research and policy analysis, and not so suitable for retail investors.
3. The entire course emphasizes concepts, facts, mechanisms, and understanding, and places little emphasis on practical operations or strategies.
For those who wish to immediately apply this knowledge to investment decisions, pleasethink twicebefore signing up. For those unsure whether this class is suitable,you can scan the course outline. If you are not interested in most topics or find them confusing, pleasethink twicebefore registering.
4. The goal of the course is to build a relatively rigorous and in-depth understanding of the concept and analytical framework of "US dollar liquidity" based on cutting-edge academic literature and past market cases. Specific objectives include:
1) Becoming familiar with the T-account framework (the most basic tool for liquidity analysis) and understanding the fundamental concepts of monetary banking from the T-account perspective
2) Understanding the operating mechanisms of the Federal Reserve and the US banking system (such as how the Fed adjusts policy rates and the micro-level implications of balance sheet reduction)
3) Being well-versed in onshore and offshore US dollar markets (repo market, FX swap market, etc.), as well as a range of money market liquidity indicators (i.e. narrow definition of US dollar liquidity)
4) Understanding broad US dollar liquidity indicators and their investment implications
5. The course runs for quite a while and may use a blackboard (not just PPT), so it's best to bring a pen and notebook. Please ensure you get a good night's rest the day before class, as the intensity is not low.
There is a risk of (not understanding) the class content, so please register carefully!
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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