Throughout history, non-FDIC insured short-term dollar denominated debt redeemable at par on demand has been prone to runs, whether in money market funds, repos or uninsured deposits. Why would lightly regulated stablecoins be any different? Also in today’s note: some good news on S&P Q1 profits, judicial stays on tariffs, an analysis of tax cut vs tariff impacts on US manufacturers, and some history on Presidential break-ups.
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About Eye on the Market
Since 2005, Michael has been the author of Eye On The Market, covering a wide range of topics across the Markets, investments, economics, politics, energy, municipal finance and more.