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Paul J Davies

@pauljdavies.bsky.social

5K followers 1.3K following 6.1K posts

Has views on banking and finance for Bloomberg Opinion. Just because you “like” something doesn’t mean you *like* something… Money. Music. Books and Bad like really atrocious Jokes. Also #COYS

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Economics 14%

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Paul J Davies @pauljdavies.bsky.social · Apr 9

🧵 A massive sell-off in Treasury markets is threatening to turn Trump’s tariff war into full blown financial crisis. Hedge funds unwinding highly leveraged basis trades is fuel to these fire sales – that’s bad on its own, but these trades are much more important than just bets on markets.

Shadow Banks Are Too Big to Stay in the Shadows

Mega hedge funds are so critical to modern finance they should be regulated more like banks.

www.bloomberg.com

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Paul J Davies @pauljdavies.bsky.social · 24m

Bank of America looks like it turned in its best ever quarter for equities and it has just edged Q1 2021 for record trading and investment banking revenue combined!

Chart of quarterly Ficc, equities and IB revenue at BofA going back to the start of 2017. Q3 2025 is thhe highest bar, incl: $3.1bn ficc, $2.3bn equities and $2.01bn IB fees.

Paul J Davies @pauljdavies.bsky.social · 56m

Good piece on multi-billion dollar *zero-revenue* speculative energy companies, incl Sam's Oklo and one run by the ex-CEO of a failed anti-woke bank >>
Heard on the Street: Forget about the froth in tech valuations. The real excess might be building up in energy stocks. www.wsj.com/tech/ai/ai-b...

The Frothiest AI Bubble Is in Energy Stocks

Concept stocks with no revenue have soaring valuations. OpenAI CEO Sam Altman has backed the biggest of these energy companies.

www.wsj.com

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Paul J Davies @pauljdavies.bsky.social · 1h

Yes indeed... and the more they go around repeating this stuff the more it finds its echo in actual policy, too.

Paul J Davies @pauljdavies.bsky.social · 1h

Featuring one of the best "taking full responsibility" quotes you'll see.

Despite his allusions to infighting, Giunta still apologized.

“I am so sorry to those offended by the insensitive and inexcusable language found within the more than 28,000 messages of a private group chat that I created during my campaign to lead the Young Republicans,” he said. “While I take complete responsibility, I have had no way of verifying their accuracy and am deeply concerned that the message logs in question may have been deceptively doctored.”

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Paul J Davies @pauljdavies.bsky.social · 1h

There's making the odd off-colour joke and then there's this >>>
‘I love Hitler’: Leaked messages expose Young Republicans’ racist chat politi.co/4onLnFu

‘I love Hitler’: Leaked messages expose Young Republicans’ racist chat

Thousands of private messages reveal young GOP leaders joking about gas chambers, slavery and rape.

politi.co

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Paul J Davies @pauljdavies.bsky.social · 2h

This IMV is marginally worse IMV than removing the cap from a broader system risk view...
The bonus deferral period for UK bankers will be cut to four years from eight, regulators say www.bloomberg.com/news/article...

Paul J Davies @pauljdavies.bsky.social · 2h

The miserable truth is that as one of very few actual revenue funnels for an entire ecosystem of chipmakers, cloud cos, researchers, VCs and LPs, OpenAI desperately, desperately needs to start sucking in as much cash as possible as quickly as possible.

Paul J Davies @pauljdavies.bsky.social · 2h

"Hey, we're on the verge of creating AGI, the smartest machines ever invented!"

"Wow! Cool, bro. What are you going to do with them?"

"Put 'em on the game of course!"

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Paul J Davies @pauljdavies.bsky.social · 3h

Absolute banger>>

Neil @neilclasper.bsky.social · 13h

A bit of handbell action at the Ben Lamar Gay Ensemble gig at Cafe OTO tonight. Also feat. sousaphone, trombone, cornet, electric guitar, synths, various percussion instruments. Tremendous stuff all round. Only other time I’ve seen him was from the circle in the Barbican, so a treat to be front row.

Reposted by Paul Davies

Toby Nangle @tobyn.bsky.social · 5h

Still, even if it's not strictly central banks (who knows?), someone's been buying @katie0martin.ft.com's pet rock. And it seems likely govts are involved.

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Paul J Davies @pauljdavies.bsky.social · 13h

Ben Lamar Gay at @cafeotodalston.bsky.social Just outstanding.

Ben singing with a suzaphone to his right and drummer behind (sorry I forgot their names already).

Ben playing a muted cornet with a flat hand drum held in front. Suzaphone and drummer behind him and silver haired guitar player to his left and in the foreground.

Reposted by Paul Davies

Neil @neilclasper.bsky.social · 13h

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Paul J Davies @pauljdavies.bsky.social · 1d

Oh!

BBG: Credit Suisse AT1 Writedown Revoked in Partial Win for Investors

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Paul J Davies @pauljdavies.bsky.social · 1d

So this is like: I don't really know how good it is or where it might go, but the companies should just pursue it

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Paul J Davies @pauljdavies.bsky.social · 1d

I took @Opinion.bloomberg.com’s AI-dentity quiz. My AI-dentity is the Pragmatist. What’s yours? www.bloomberg.com/graphics/202...

Quiz: What’s Your AI-dentity?

Are you an AI Doomer, an Accelerationist or somewhere in between? Answer these questions to find out.

www.bloomberg.com

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Paul J Davies @pauljdavies.bsky.social · 1d

It’s never good when a company has to shore up a sliding share price on a Sunday. And that goes double for a bank. #Jefferies faces only small losses today from #FirstBrands collapse but longer term the pain may be greater. @opinion.bloomberg.com
www.bloomberg.com/opinion/arti...

Paul J Davies @pauljdavies.bsky.social · 1d

Apparently millions of dollars have been completely wiped out in the collapses of both Bonk and Fartcoin...

Nope, me neither

Paul J Davies @pauljdavies.bsky.social · 1d

This is really @theonion.com right? Right?

The Guardian @theguardian.com · 1d

‘Nature’s Labubu’: why are gen Z ‘unboxing’ conkers?

The traditional playground favourite is staging a comeback – without the threat of violence

www.theguardian.com

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Reposted by Paul Davies

The Guardian @theguardian.com · 1d

‘Nature’s Labubu’: why are gen Z ‘unboxing’ conkers?

The traditional playground favourite is staging a comeback – without the threat of violence

www.theguardian.com

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Paul J Davies @pauljdavies.bsky.social · 2d

Pretty sure you can’t pass lifetime tenancies onto your kids or anyone else anymore - and that was scrapped a long time ago - but there are plenty of people enjoying subsidized rent that could maybe should pay market.

Paul J Davies @pauljdavies.bsky.social · 3d

Scenes from the Aga Khan centre Kings X.

Scalloped marble wall with water running down b

Aquamarine and blue dots on a gold background with Islamic calligraphy above and below.

Paul J Davies @pauljdavies.bsky.social · 3d

“Even though Mr Rimmington started to feel unwell after day one, he continued to feast on the chewy treats.” For three days…

Jack Tindale @jacktindale.bsky.social · 3d

Barnsley:England’s Florida.

www.bbc.co.uk/news/article...

Barnsley man in hospital after three-day cola bottles binge

Nathan Rimmington ate his way through 3kg of sweets - and doctors were shocked he survived.

www.bbc.co.uk

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Reposted by Paul Davies

Jack Tindale @jacktindale.bsky.social · 3d

Barnsley:England’s Florida.

www.bbc.co.uk/news/article...

Barnsley man in hospital after three-day cola bottles binge

Nathan Rimmington ate his way through 3kg of sweets - and doctors were shocked he survived.

www.bbc.co.uk

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Paul J Davies @pauljdavies.bsky.social · 4d

I think it depends how deeply embedded you were before. New money like the Mones get dropped in disgust I reckon. Was Vennels a later convert? I can imagine she’d attract a certain kind of piteous concern and many prayers for her suffering and sinful soul.

Paul J Davies @pauljdavies.bsky.social · 4d

Unsolicited Dirty Dick pic

Paul J Davies @pauljdavies.bsky.social · 4d

An extra for luck. Not read this yet, recently given to me by a friend who always has book recommendations and the first chapter made it seem like it’s going to be strange and entertaining. It’s about a nearly pop star who never quite made it but is still sort of trying.

Street-level superstar - a year with Lawrence by Will Hodgkinson.

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Paul J Davies @pauljdavies.bsky.social · 4d

And this one is a blow by blow history of the suez crisis and Hungarian revolt of 1956. By the end the only seemingly honourable people are Eisenhower and to be fair probably Nasser. Left me with an even lower option of Eden than the vague one I already carried. Also very good!

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Paul J Davies @pauljdavies.bsky.social · 4d

This is personal stories of some bewildered and traumatised people in East Germany a few years after the wall came down. Sort of part travel book part journalism, but just really good clear crisp writing. And fascinating stories.

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Paul J Davies @pauljdavies.bsky.social · 4d

Three good (and very different) books I read this summer:
This one is a very deeply reported tale about the evolution of OpenAi but also an intellectually ambitious take on how the industry is sucking up physical, financial and labour resources and abusing them all. It’s very good!

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Paul J Davies @pauljdavies.bsky.social · 4d

Oh he’s not technologically stabling the horsemen or anything like that. He said so.