Markets 101 Complete Course with Joseph Wang – Central Banking 101

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Discover Market Insights with Joseph Wang’s Markets 101 Complete Course – Central Banking 101

Are you keen to understand how markets and central banks work? Take advantage of Joseph Wang’s extensive course to embark on a life-changing educational journey.

Markets Complete 101

a basic training for merchants of large quantities. These 10 courses will walk you through each of the main asset classes and educate you the fundamental frameworks that are needed to comprehend them. Case studies are a major component of every class, serving as examples of the concepts covered.

An Introduction to International Markets

Discover from the viewpoint of a macro trader
This isn’t your typical economics or finance course. While each lesson will acknowledge some popular theories found in textbooks, a significant portion of the teaching will come from real-world case studies that demonstrate how markets function.

Market Players

Every player in the market faces unique incentives and limitations. Some of them invest for portfolio hedging, some for regulatory compliance, and some aren’t even seeking to turn a profit. This course goes over a number of significant market players and provides examples of market players making investments unrelated to “fundamentals.” Prices aren’t necessarily indicative of what you would anticipate. As a preview, the complete class is offered for free.

The Federal Reserve

Without a doubt, the Fed is the most significant player in the global market. A Fed chair’s remarks have the power to send markets into orbit or into despair. However, the Fed is a logical agent whose decisions are predictable. This course covers the dual mandate of the Federal Reserve, the instruments it employs to accomplish its goals, and their effects on the real and financial economies. “Higher for Longer,” a case study. Taper Tantrum, Reverse Wealth Effect, and Corporate Credit Facility.

Treasury Exchange

The most significant market in the world is the Treasury market. It establishes the risk-free rate in US dollars, which affects the price of every asset. The mechanics of the Treasury market are covered in this course, including product categories, supply and demand drivers, and popular market interpretations of the yield curve. Case studies: Treasury Market, safe haven bids, and TIPS implied breakevens for March 2020.

MBS Agency

The Agency MBS market is frequently referred to as “Treasury adjacent” due to its high liquidity and lack of credit risk. In addition to covering unique features like prepayment risk and how MBS prices affect the real economy, this course also goes through the process of creating Agency MBS. Case studies: 2020 mREIT Implosion, Convexity Hedging, and 2022 QT.

Foreign Currency

One important asset type that has a direct bearing on both the real and financial economies is the FX market. When making investments, global investors consider fluctuations in foreign exchange rates, and real economy players respond to shifts in the prices of their goods and services. This course explains several investor and academic viewpoints on the factors that influence foreign exchange rates, with particular attention to the significant impact of the government on these prices. Case studies include the Safe Haven Yen, the Swiss Un-Peg 2015, the East Asian Currency Crisis, and the Sri Lanka Balance of Payments Crisis.

International Currency System

The dollar is distinct because it is both the national currency of the United States and a widely accepted medium of exchange globally. This course outlines the dollar’s influence, provides explanations for its dominance, and explores its ramifications. Because of the worldwide dollar system, the Federal Reserve is effectively the de facto central bank of the globe, directly influencing global Fed policy. Case Studies: Fed Swap Lines in 2008 Strength of the dollar, inflation, and eurodollar banking.

Stocks

The most widely used asset class is equities, which is also the hardest to comprehend. In addition to discussing conventional theories of valuation, this course provides an overview of the market and points out that, in reality, stocks can behave quite differently. Target Date Funds, the Index Effect, corporate stock buybacks, relief rallies, and the split of Tesla’s shares are case studies.

Give credit

Many different types of borrowers issue debt to raise capital in the market. The corporate credit, municipal, and asset-backed securities markets are covered in detail in this course. We talk about market indicators, default and recovery, ratings, and spreads. Case studies: Fed Corporate Credit Facility, Fallen Angels, Private Label MBS.

International Central Banks

Studying each of the main central banks is crucial since they are all deities in the market. Additionally, they may be predictable, which presents chances for investment. The objectives and resources of the ECB, BOJ, and PBOC are covered in this course. Case Studies: BOE Pension Crisis, Yield Curve Control, RMB Shock Devaluation, and Draghi’s “Whatever it takes”

Cash

Demand creates money. The demand for both financial assets and actual products and services increases with money. We talk about the various forms of money, its creation, and its movement. Case studies: Quantitative Easing, Eurodollar Banking, Covid Fiscal Stimulus, Post-GFC Credit Crunch, and 2006 Real Estate Boom.

Teacher

Joseph Wang Joseph is the creator of Central Banking 101, the CIO of Monetary Macro LLC, and the owner of Fedguy. He had previously worked as an attorney in New York, a credit analyst at S&P Ratings, and a senior trader on the Federal Reserve’s Open Markets Desk. Over the course of his work, he has had the chance to examine the financial system from both the inside, on the Desk, and the outside, as a participant in the market. His work attempts to close the knowledge gap between academics and practitioners in the field of financial markets and to bring transparency to what is sometimes perceived as an opaque system.

Joseph graduated from Northwestern University with a B.A. in Economics, Columbia Law School with a J.D., and Oxford University with an MSc in Financial Economics.

Start Your Path to Market Mastery Now!

Seize the chance to gain a deeper comprehension of markets and central banking. Become proficient in the knowledge and abilities required to succeed in the constantly changing finance industry by enrolling in Joseph Wang’s Markets 101 Complete Course: Central Banking 101. Get started now on the path to market mastery!

 

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