Inflation + Recession = Stagflation

Posted on: 8 September 2022

By Ken Kapner

By Ken Kapner What is “stagflation”? It’s when prices for goods and services are increasing while the economy is not growing. Are we headed towards it? Well, by any measure, inflation is a problem. For example, take a look at the consumer price index (CPI) going back to the early…

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Interest Rate Hedging and the Impact on Interest Rates

Posted on: 14 June 2022

By Ken Kapner

By Ken Kapner Introduction Economic fundamentals, supply chain issues, and energy prices have all contributed to interest rates moving higher. The Fed started raising rates in March of this year to combat the rise in inflation. The 10-year US. Treasury started the year around 1.53%, and at this writing is…

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The Long and Short: Predicting Recessions

Posted on: 12 November 2019

By Ken Kapner

Author: Ken Kapner Over the last year, there has been a lot pf press regarding negative yield curves and the ability of an inverted curve to predict a recession. There are other indicators that market practitioners use to foretell a recession, such as the ISM purchasing managers’ report and consumer…

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The Long and Short: Capital Markets Primer

Posted on: 30 August 2019

By Ken Kapner

Author: Ken Kapner The Capital Markets are part of the global financial system that brings together investors and borrowers. Technically, the word capital implies a longer term, but the timing of when “short-term” actually becomes “long-term” has become a bit of a gray area. Generally speaking, short-term refers to money…

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Securitization and Credit Ratings Revisited

Posted on: 13 August 2019

By Ken Kapner

There were a lot of reasons for the 2008 credit crisis. Some of these included poor underwriting on personal mortgage loans, investors not doing their due diligence on investments, individuals lying on their mortgage applications, and government interference, to name just a few. Another cause resulted from credit rating agencies…

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Technology and Capital Markets Training: Saving Employees’ Time and Money via Live Virtual Instructor-Led Training

Posted on: 23 July 2019

By Ken Kapner

Technology has changed how the capital and financial markets operate. It is easy to identify some of these changes under the banner of Fintech (Financial Technology) including electronic trading, blockchain, peer to peer lending, robo-advisors, and crowdfunding. But what about capital markets and financial training? Technology has also made extensive…

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Negative Interest Rate Swap Spreads – Are Repos to Blame?

Posted on: 30 April 2019

By Ken Kapner

Authors: Charles Gates and Ken Kapner Interest rate swaps denominated in US dollars (an agreement between two counterparties to exchange a fixed rate of interest for a floating rate of interest for a specific period of time calculated on a notional principal amount) have been in existence since the early…

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Negative Interest Rates? – The Enigma Explored!

Posted on: 3 April 2019

By Ken Kapner

Author: Charles Gates Negative interest rates have been observed many times in various markets, but over the past few years, have occurred more often than can be explained by a mere anomaly. We have no problem imagining why a government or company would want to issue bonds at a negative…

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Marijuana Related Businesses: High Hope for a Fast-Growing Industry

Posted on: 30 January 2019

By Ken Kapner

By Ken Kapner GFMI’s Newest Article The history of marijuana is one fraught with varying degrees of acceptance, illegality, utility, and recreation. As noted in GFMI’s most recent article, Marijuana Related Businesses (MRBs): High Hopes for a Fast-Growing Industry: In the United States, ten states have legalized pot for recreational…

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LIBOR History, Replacement, and New SOFR Products

Posted on: 16 November 2018

By Ken Kapner

In late 2017, GFMI’s President and CEO, Ken Kapner, wrote an article about the London Interbank Offered Rate (LIBOR), which is used by capital markets participants as the rate by which they would lend each other money. For a variety of reasons, including the realization that the rate was being…

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SoFi: The Rise of Online Marketplace Lenders

Posted on: 28 February 2017

By Ken Kapner

Millennials are the first generation to have grown up with access to the Internet and technology for their entire lives. They have done their homework on it, taken classes, and accessed all of their information through it. So, it is no stretch for millennials to search for and obtain their…

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