Unparalleled Expertise
As data increasingly becomes commoditized, free thinking becomes priceless.
FFTT, LLC launched in 2014 with one goal in mind – to marry our unique dot-connecting abilities with our in-depth analytical work and our relevant historical perspectives to create differentiated, money-making insights that help our clients’ investment process and investment outcomes.
Lead Analyst:

Macro-Thematic Trends
Luke Gromen

Fed, Treasury implement de facto Yield Curve Control for banks as JPM accelerates its exposure to physical gold (FFTT, 3/22/23)
In plain English, the Fed’s BTFP amounts to a soft version of Yield Curve Control (YCC), but only for banks with US branches – the USTs on bank books were trading at a discount to par, but via the BTFP, banks can now put those bonds to the Fed at par…i.e., the Fed is de facto capping UST yields below the current market price, for the year term of the BTFP (we suspect it will