The most important roundup of news for AMC June 13 2021
- PENDING CLARIFICATION: As of June 9, the Feds have initiated $720 billion in reverse repo returns, whereby institutions and hedge funds must—within 15 days—return $720 billion that they borrowed from the U.S. government. Even if hedgies borrowed only U.S. bonds (as opposed to cash) in order to satisfy collateral/liquidity requirements, the big banks won’t like hedge funds’ loss of collateral/liquidity after the hedge funds return the bonds to the government. As a result, margin calls will become much more likely.
- In the German market over the weekend, AMC closed at a converted-to-USD figure of $51.82, which constitutes a gain of +4.9% over the U.S. closing price ($49.40) on Friday! Let’s go, 49ers! Wait . . . hah? Ape easily confused.
- Evidence indicates that David Inggs is “Global Head of Operations” at Citadel and Citadel Securities. He’s also on DTCC’s Board of DIrectors! What the titanic fuck? Can interests get any more conflicted? Ingss has a huge voice at the table when DTCC board members are deciding how to rein-in illegal hedge fund activities! Furthermore, David Ingss’ brother (Sean Inggs) is “Fund Director” at International Management Services, Ltd., which provides directorship services to Cayman Islands funds. And there you have it, folks: the 3-headed beast is alive and well. Apparently, CItadel’s “Master Fund” has over $200 billion in Cayman Islands accounts.
David Inggs is Global Head of Operations at Citadel and Citadel Securities, and is responsible for all products across Asset Servicing, Billing, Cash Management, Clearing, Collateral Management, Reconciliation & Control and Settlements.