Market plumbing

• Three big ideas for tokenized finance

• What’s going on with overnight rates?

• The plumbing of monetary union

• Plumbing for tokenized finance

• Leaky floor

• The overnight repo facility reaches $2 trillion

• The federal funds market, then and now

• The US–China clearing balance

• Atomicity

• Variation margin

• Netting

• Quantitative tightening and overnight rates

• Continuous payments

• The tokenization thesis

• Mechanics of quantitative tightening: animating Zoltan

• JPM Coin

• Project Jura

• Balance sheet as a service

• Repo from first principles

• Regulating DeFi

• Stablecoin report

• The overnight rate complex

• Copper points

• Internal structure of the Fed

• Multicurrency CBDC

• The Poly Network heist

• Cars and chips: Inflation mechanics

• Primary dealers

• Cash-settled derivatives

• The June 2021 Fed meeting: Read the fine print

• Network congestion

• Onshore and offshore renminbi: Mechanics of RMB internationalization