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Julian D. A. Wiseman
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Structure of financial markets
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papers/finmkts.html
Electoral systems
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papers/electsys.html
Pricing Money
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books/pricing-money/Pricing_Money_JDAWiseman.html
other essays
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short URLs
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twitter
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Stenier(5,6,12) cards
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papers/games/steiner_hexads/steiner_hexads.html
Physically Delivered Lɪʙᴏʀ: the road not taken
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papers/finmkts/Physically_delivered_Libor.html
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books/pricing-money/Pricing_Money_JDAWiseman.html
HTML
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books/pricing-money/Pricing_Money_JDAWiseman.html
A4 PDF
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8½″×11″ PDF
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books/pricing-money/PricingMoney_USL.pdf
Port Vintages: The Addendum
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PortVintages/Port_Vintages_Addendum.html
Rotting of links: DMO versus BoE
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papers/finmkts/20171231_Rotting_links_DMO_BoE.html
Conventional gilt auctions: errors in the results; and an information leakage
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UK £ default is not only unlikely, it is de facto impossible
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4Q55 still dear (indeed, 1bp dearer); 1H21 still cheap (but 2bp less cheap); and switch 2H65 → 3H68
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papers/finmkts/gilt_relative_value.html#Comment20160312
4Q55 still dear (indeed, ½bp dearer); 1H21 still cheap (but ½bp less cheap)
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papers/finmkts/gilt_relative_value.html#Comment20160109
Conventional Gilts, ≥1946
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papers/finmkts/gilt_statics.html
linkers and perpetuals and floaters
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papers/finmkts/gilt_statics_non-conventionals.html
Whole-curve gilt relative on one chart
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papers/finmkts/gilt_relative_value.html#Comment20160102
Short gilt 1½% Jan 2021 cheap to neighbours
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papers/finmkts/gilt_relative_value.html#Comment20160101
Long gilts: ’44 and ’45 still cheap; ’49 to ’60 still dear
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papers/finmkts/gilt_relative_value.html#Comment20151213
Long gilts: ’44 and ’45 cheap; ’49 to ’60 dear
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papers/finmkts/gilt_relative_value.html#Comment20151122
PR-Squared and the 2015 General Election
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papers/electsys/pr2_2015.html
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papers/games/hexagonal_thing/hexagonal_thing.html
Hexagonal Thing
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Gilts: no more temporary WI security
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Big Bottles of Port: Ending The Prohibition
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papers/port_and_wine/port_ending_big-bottle_prohibition.html
The BoE and secrecy: two terrible decisions, and one excellent
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papers/finmkts/20141211_BoE_secrecy.html
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papers/schools/solar_system_to_scale.html
The Solar System, to scale, for a school yard
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A4
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Português
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What the Scotland Yes campaign should admit
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£
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Scotland, independence, the pound, and the debt
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Is Breast Cancer a Deficiency Disease?
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Libor, buttered side down
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papers/finmkts/201304_exponential_yield_curve_model_wiseman_1994.html
The Exponential Yield Curve Model, Wiseman, 1994, is obsolete—don’t use it
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Libor: the authorities can be radical
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Moody’s downgrade of the Bank of England is a nonsense
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Previous placemats
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RIP Neil Armstrong, who was wrong
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Upside-Down Union Jacks
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Passport photos of children: the Photomaton ripoff
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CPI-linked Gilts: Not Yet
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The statement issued by Her Majesty’s Treasury on 29 May 1985
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papers/el-greco/el-greco-dysmorphology.html
What malformation did El Greco paint?
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A Defaulting Eurozone Country Can Print Euros
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Paul Tucker’s Difficult Questions
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papers/finmkts/20110525_questions.html
The Old Lady’s defence: Stigma at +25bp; Many prices for collateral; and The strange case of the zero
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The BoE’s Inflation Distribution: An Odd Inconsistency
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papers/finmkts/20110512_inflation_arithmetic.html
The Cheapest of Fukushima’s Lessons
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papers/communications/20110322_fukushima.html
CoCo Credibility: add some randomness
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The Economist: Silver Spoons Only
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The BoE should announce the votes with the decision
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papers/finmkts/20110218_votes_with_decision.html
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papers/finmkts/20110206_ending_qe.html
Unwinding £ Quantitative Easing: the BoE Should Sell Calls
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Blue and Red and Incredible
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A “Common European Bond”
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Pay: Efficiency Is Also Important—On bankers, academics, and Vintage Port
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EU5: outstanding debt, current instruments
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papers/finmkts/20101114_outstanding_debt_current_instruments.html
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papers/port_and_wine/quevedo_2008.html
The back label of Quevedo Quinta Vale D’Agodinho 2008 Vintage Port
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papers/port_and_wine/quevedo_2008.html
The Chow & Robbins Problem: Stop at h=5 t=3
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papers/easymath/chow_robbins.html
No Gifts
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Auctionettes: HMT’s Reply
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papers/finmkts/20100620_auctionettes.html
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papers/electsys/pr2_three_parties.html
PR-Squared: a three-party system
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papers/electsys/pr2_three_parties.html
An Open Letter to the Commercial Secretary to the Treasury: Trouble Coming, Easily Avoided
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papers/finmkts/20100524.html
PR-Squared: UK, May 2010
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papers/electsys/pr2_uk_201005.html
Auctionettes: slightly better handling of tied bids
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papers/finmkts/auctionettes_tied_bids.html
A Penrose Tiling
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Letter to the FT: EMU really is a locked door
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A cheap planet-cooling machine
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papers/environment/planet_cooling.html
The Old Lady’s Untruthful Accounts: Another Fine Mess
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22nd January 2060: two errors, one traditional, one new
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Pre-cooked wind-down plans: every unhappy bank might be unpredictably unhappy in its own way
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papers/finmkts/wind-down_plans.html
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papers/electsys/pr2_vote_power_party_merge.html
PR-Squared: the Majoritarian Incentives of Voters and of Parties
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Proportionate Barbie (or, Barbie is not skinny)
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papers/barbie/proportionate_barbie.html
On the Punishment of Lonely Bidders
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On Quantitative Easing
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Short-term ‘draining’ operations and the nature of reserves
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papers/finmkts/remunerating_reserves.html
The Bank of England: a step closer towards its own monetary policy
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papers/finmkts/remunerating_reserves.html
PR-Squared in Israel: Bettering Israeli Politics
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papers/electsys/pr2_israel_2009.html
Auktionen von Bundesanleihen: Ein besserer Mechanismus
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papers/finmkts/bund_auctions_deutsch.html
Better Auctions and Better Products: A Presentation to the UK DMO
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papers/finmkts/20090206_dmo.html
Bund Auctions: A better mechanism
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Open Mathematical Questions at jdawiseman.com
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Methods for Distributing Gilts: A Reply
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Gilt Asset Swaps: Stheeman’s Reply
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papers/finmkts/dmo_asset_swap_stheeman.html
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papers/finmkts/us_treasuries_fewer_longer.html
US Treasury Bonds: fewer and larger
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papers/finmkts/us_treasuries_fewer_longer.html
Who pays wins: a reply to Mark Capleton
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papers/finmkts/dmo_asset_swap_rbs.html
The Implementation of Monetary Policy: The Next Attempt
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papers/finmkts/paul_tucker.html
On The Plotting of Yields
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Gilt Asset Swaps: DMO Should Profit
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2008 Olympics: who won? Comparing golds and silvers and bronzes
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papers/easymath/olympic_medals_usa_versus_china.html
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papers/easymath/surds_star_inner_radius.html
Sin and Cos
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Csc and Sec
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Tan
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papers/easymath/surds_tan.html
the inner radius of n/m stars
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papers/easymath/surds_star_inner_radius.html
Letter to the FT: Libor is both high and low (“Some confusion over Libor levels”)
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papers/finmkts/ft_letter_20080603.html
Term Funding and Implementing Monetary Policy
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papers/finmkts/20080522-cass.html
PDF version
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papers/finmkts/20080522-cass.pdf
Letter to the FT: Libor suggestion doubly mistaken
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papers/finmkts/ft_letter_20080426.html
The possible stigmatisation of UK Treasury Bills
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papers/finmkts/stigmatisation_t_bills.html
Implementing Monetary Policy
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papers/finmkts/lse-20080130.html
PDF version
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A practical design of a better decanter
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papers/trivia/decanter.html
The BoE’s implementation of monetary policy: dangerous false signals and confused collateral
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papers/finmkts/implementing-instability.html
Article in Central Banking: The pretend market for money
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papers/finmkts/implementing-monetary-policy.html
NHL scoring: an overtime result should be 1-0 not 2-1
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papers/games/bettman.html
Letter to the FT: Three ways the US Treasury could repair the bonds market
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Bonds: too many; too small
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papers/finmkts/reopenings.html
The 30-year Mbono: recommendations
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papers/trivia/characters-copy-paste.html
A list of HTML character entities and PostScript glyphs
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papers/trivia/character-entities.html
small collection of characters for copy-pasting
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papers/trivia/characters-copy-paste.html
Two examples of unusual voting systems
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papers/electsys/unusual-electoral-systems.html
Algorithm justifying that the expected value of sn/n ≈ 0.79295350640…
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papers/easymath/coin-stopping.html
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http://github.com/jdaw1/placemat/
GitHub.com/jdaw1/placemat/
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Reply to UK DMO’s consultation about an ultra-long gilt
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papers/finmkts/long-consultation.html
Tournament designs
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papers/tournaments/tournaments.html
all-play-all
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carry-over
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individual-pairs
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papers/tournaments/individual-pairs/individual-pairs.html
responses to readers’ questions
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papers/tournaments/tournaments_questions.html
Round EMU conversion rates
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papers/finmkts/emu-rates.html
Some elementary thoughts on the maturity at which a government should borrow
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papers/finmkts/debt-maturity.html
The colours and letters of futures maturities
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papers/trivia/futures.html
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papers/trivia/smws-distillery-numbers.html
The distillery numbers of the Scotch Malt Whisky Society
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How the UK can stop spam without damaging free speech
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papers/prose/spam.html
Reply to UK DMO’s consultation about a new design of index-linked gilt
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papers/finmkts/ilg-consultation.html
Various non-intuitive features of electoral systems
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papers/electsys/conundrum.html
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papers/games/jsw2/jsw2_index.html
A map of Jet Set Willy II, the classic ZX Spectrum platform game
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recommended route
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comments from Steve Wetherill and Derrick P. Rowson
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papers/games/jsw2/jsw2_programmer_comments.html
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books/pricing-money/pricing-money-contents.html
whole of Pricing Money
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books/pricing-money/Pricing_Money_JDAWiseman.html
Chapter 1: Money Markets
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books/pricing-money/pricing-money-chapter-1.html
Table of Contents
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books/pricing-money/pricing-money-contents.html
PR-Squared: A New Description
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papers/electsys/pr2.html
Apportionment, or How to Round Seat Numbers
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papers/electsys/apportionment.html
Queens’ Courtiers: a board game for two players
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papers/games/queens-courtiers.html
Official Intervention In The ‘Specials’: the DMO’s decision
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papers/finmkts/repo3.html
A postscript to the ‘Dear Aunty’ letter, on the subject of pension savings
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papers/prose/aunty2.html
The Bank of England and the Sterling Money Markets: A Critique
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papers/finmkts/boe-mm-critique.html
A letter to my Aunt, dated 7th March 1997, explaining why EMU is such a bad idea
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papers/prose/aunty.html
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papers/union-jack/union-jack.html
How to draw the flag of the United Kingdom — accurately
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papers/union-jack/union-jack.html
Official Intervention In The ‘Specials’: letter of 20th September 1999
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papers/finmkts/repo2.html
How to find one differently-weighted object from amongst (3w–3)/2 using only w weighings
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papers/easymath/weighing.html
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papers/prose/payrolls.html
Non-farm payrolls: a diary
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papers/prose/payrolls.html
A Market-Based Exchange Rate Mechanism
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papers/finmkts/fx_opt.html
Switch Auctionettes
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papers/finmkts/switches.html
Official Intervention In The ‘Specials’
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The Dutch Sequential Auction
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papers/finmkts/dutchseq.html
A Better Auction Mechanism, And Why Governments Should Sell Futures Rather Than Debt
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A Criticism Of The Jenkins Report
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Julian D. A. Wiseman
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www.jdawiseman.com
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previous placemats
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Solar System model
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the author
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About author
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