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More banks are collapsing, and more community events
The Hard Road Newsletter
Jacob Traut
May 8th, 2023
Hey there.
We’ve got a quick one again, banks are still failing and the Discord Community is up to stuff again.
Community events
We had a big week in the Composer universe this past week, Friday was the first meeting with Donovan from the Product Management team. It was the first in what we hope will be a series of communal interviews with the “Power User Community” of their product, to allow us a forum to express our thoughts on their timeline and roadmap of developments.
So what’s new, and what’s coming?
Well, managing expectations is always important. We don’t have a concrete roadmap for exactly that reason. What we do have is an outline of the kinds of features that Composer is looking to add, and why. We learned that additional datasets such as the FRED API (Data directly from the federal reserve) along with things like calendars of events are high on the priority list, with things like additional indicators being significantly lower.
Some sort of warning or metric for overfitness detection is being considered, and a system of rebalancing between symphonies is being considered. My personal favorite was getting Donovan to say that they’s “look in to” implementing webhooks. For those who don’t know, webhooks allow you to do awesome stuff like build a strategy in Pinescript via TradingView and execute the trade through Composer. A man can dream.
We’re currently discussing how frequently to have these meetings, and what the most productive way to format them would be so keep your eyes peeled on the Discord Community and make sure you don’t mute the Announcements channel!
Whats up with the markets?
Well, we’re gonna go over this with a couple quick news links. As far as opinions go, I’m as unsure about the direction of the market as ever. When in doubt, just DCA in to your retirement accounts. Hard to go wrong adding to S&P500 ETF’s.
TLDR; Debt Ceiling may be reached by June 1st if no deal is made. This is very not good for markets.
TLDR; JPow is banking on not causing a recession by hiking interest rates to 5%.
Fun fact, when Paul Volker hiked interest rates to 20% in 1980, the US Debt to GDP ratio was roughly 30%. Today, it is roughly 123%. In a way, the current Fed Funds rate of 5% is comparable in its effect, at least to Federal Debt. Will it take the same economic outcome to fix it?
TLDR; Banks are still doing the imploding thing. Two more banks are on the ropes after the takeover and sale of First Republic Bank.
I’m heavily considering doing an extremely tinfoil edition on what this means, and how this situation plays in to things like Central Bank Digital Currencies/FedNow. Let me know what you think?
Do you want to hear wild conspiracies? |
Thats going to do it for this week.
We’ve got lots of news ahead of us this week, including CPI on Wednesday and Jobless claims on Thursday. If your symphonies don’t handle volatility and news events well, maaaaaybe consider shutting down for a day? That’s what I’m planning on doing.
Be safe out there!
Please note that the information provided is for general informational purposes only and is not intended to be financial advice. The information provided is not a substitute for professional advice and should not be relied upon as such. Always consult a financial advisor before making any financial decisions. Additionally, The Hard Road staff and contributors may have a stake in the Securities, Cryptocurrencies, Platforms, and other assets that are mentioned in this article and others.
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