Cory Banks, Index Universe, Has Schwab Cracked the 401K Code For ETFs? here. Trading volumes will rise.
Oppenheimer with Wendell Fuzzy worked later on a new extension of Dirac’s theory for electrodynamics. Dirac himself had no response to this new long paper. Later in 1934 Oppenheimer got Dirac to visit him at Caltech. There he persuaded Dirac to listen to a fifteen minute presentation by graduate students on the paper, giving the first attempt to deal with cancellable infinities in quantum field theory by a process later formalized as renormalization. After the presentation the students braced themselves for tough questions from the famous Dirac. He asked only one:
Where is the post office?
One of the graduate students, Robert Serber, obligingly drove him there, and tried asking again for comments. He was cut down by Dirac’s reply,
I cannot do two things at once.
Although renormalization is now recognized as having roots in papers Serber would write a few years later, the larger point is that Oppenheimer and his group missed a chance to energize quantum field theory before World War II.
Izabella Kaminska, Alphaville, The US yield move and the China premium, here.
What’s really responsible for higher US yields? Falling demand from domestic and western investors? Or Chinese and Japanese official flows?
Earlier in June, TIC data sent us a very important message. Abenomics was somehow prompting the repatriation and redistribution of money held in long-term USTs by Japanese investors, as this chart from Nomura shows: