A Note to My Readers
November 25th, 2009 8:32 am | by John Jansen |I began writing this blog in January 2008 and it has been a far greater success than I had ever dreamed possible. It has been my privilege to inform and illuminate my readers about the daily movements in the fixed income markets and to do so as the greatest financial crisis since the Depression paralyzed the economy and the markets. I hope that I reported on the historic events of the past two years with both humility and humor.
It is now time to turn the page. I have accepted a position with TD Securities in New York and I will return to the world of institutional sales. I will be hawking liquid rates products and I will be actively involved building a new franchise for that firm. It is an exciting opportunity and I expect to reflect some of the perspective that I have gained in these nearly two years of blogging.
At the moment, the future of this blog is undetermined. If you are involved trading fixed income and wish to establish a professional relationship, please feel free to contact me at John.Jansen1950@yahoo.com.
For those who have access to Bloomberg, I will show up on that system early next week.
In the spirit of the Thanksgiving holiday I want to say thank you to several folks.
Tyler Cowen at Marginal Revolution was the first member of the blogosphere to cite my work and I owe him an immense debt (and I did thank him personally when we met at the US Treasury several weeks ago).
I would be remiss if I did not thank Professor Paul Krugman of the New York Times who provided this blog with enormous credibility when he quoted from it in the newspaper itself and in his blog in October 2008 at the height of the crisis.
Numerous other bloggers gave me assistance and among them I thank Felix Salmon, Yves Smith, Mark Thoma, Tim Duy and James Hamilton.
This blog could not have been successful without the assistance and time of many traders, salespersons and portfolio managers who provided me with the raw material for the articles I posted. I promised anonymity and I was faithful to that pledge. I thank all of those market participants for making this possible.
And finally I thank those of you who read and commented regularly. I particularly thank those who regularly commented as the discourse and discussion was always civil, polite and gracious. Many of you had wisdom and insight beyond that which I possess and I thank you for sharing your thoughts here.
As I noted earlier, I am turning a page and not necessarily writing the last paragraph in a book. Please feel free to contact me via my personal e mail or via Bloomberg when I am on that system next week.
Thank you so much and enjoy the Thanksgiving holiday.
82 Responses to “A Note to My Readers”
By bond noob on Nov 25, 2009 | Reply
That is spectacular. Congratulations. Obviously, if you stop blogging, we’ll miss you.
By Steve Milos on Nov 25, 2009 | Reply
Congratulations John! I hope that the blog can continue, but best wishes, whatever happens. Happy Thanksgiving to you.
By mrpink on Nov 25, 2009 | Reply
Congratulations John on the new chapter!
-mrp
By Danny on Nov 25, 2009 | Reply
Sweet and sour feelings… Sorry to hear you will exit the bloggin world, but welcome back to the trenches. Very happy to hear you got a job in this tough market conditions!
Congratulations and much success in this new beginning!
Danny
By Cedric on Nov 25, 2009 | Reply
That’s great! However, please post if the Tbill market is going to freeze up so I can move my TD funds to my mattress.
By Alec on Nov 25, 2009 | Reply
Congratulations – your blog was of great value for me. I am fortunate to have a Bloomberg and look forward to your comments next week, hopefully I will have access. Your blog was a true public service and for that I want to extend my gratitude. Have a wonderful Thanksgiving and best of luck in your new endeavor.
Alec.
By JK on Nov 25, 2009 | Reply
I am absolutely thrilled for you!
Best wishes and much success in your new position! Jodi
By Kid Dynamite on Nov 25, 2009 | Reply
congrats, John. Perhaps you’ll be able to find some sort of mix by writing trading strategy pieces or market action summaries for TD’s clients.
By gaius marius on Nov 25, 2009 | Reply
very best of luck to you — i’m sure i don’t have to say that through this blog you were among the most important commenters in any media during the crash. i for one credit you greatly for helping me keep my family’s material well-being out of that fire. if you did not know, let me tell you that you affected people’s lives immediately and positively through this blog. thank you, and i hope you can still find the opportunity to digress here every now and again.
By anon on Nov 25, 2009 | Reply
Heartfelt congratulations; looking forward to future missives from JJJ if you maintain the blog, but in any case thanks so much for your contributions and best wishes for your adventures at TD.
By reddy on Nov 25, 2009 | Reply
Congratulations, I certainly miss this blog, since this used to be first blog I used to read everyday. I am a TD customer, hopefully TD will allow you to write research note to their clients.
Good luck
By der Tillman on Nov 25, 2009 | Reply
very sorry to see you go, but very happy for you. Will contact you on Bloomberg.
best of luck ‘hawking liquid rates products.’
By John on Nov 25, 2009 | Reply
Congratulations John! As someone in the fixed income business, I always enjoyed reading your blog every day. You did a great job conveying the Street’s thoughts while interjecting your own keen insight, and did it with great style and flair. Good luck on the new job!
By Mick Weinstein on Nov 25, 2009 | Reply
Congrats, John – your work here has been outstanding, a model of how blogs can give voice to experts in a specific field and in individual manner. I learned a lot about the bond market from your writing and am very grateful for that. All the best at TD.
By Jack on Nov 25, 2009 | Reply
Looking forward to working with you! Was very excited when I heard you were coming to TD.
By cosmo on Nov 25, 2009 | Reply
Congratulations on your new job. I want to thank you for your blog. I have learned so much from your writing about a market I knew absolutely nothing about. I started every morning reading your blog and will miss it greatly. Thanks again and good luck.
By murphc05 on Nov 25, 2009 | Reply
John–very best of luck. Looking forward to reading your commentaries.
By BigD on Nov 25, 2009 | Reply
John,
Best wishes on the new endeavor. This site was my first read avery morning, and became a valuable tool. I greatly appeciated both the technical aspect and your writing style. I have yet to find another writer that covers the “inside baseball” of fixed income like you did.
If the blog goes, you will be greatly missed, but I’ll be in touch re: the professional relationship. Thanks, and happy holidays to you and yours.
By miguel on Nov 25, 2009 | Reply
Congrats on your new role…
By UrbanAnalyst on Nov 25, 2009 | Reply
Echoing the comments of others here, my most sincere congratulations on your entrance back to the floor. Your daily commentary will however be greatly missed, and I hope to see missives in some form to TD clients in the future. Thanks for consistently delivering timely and neutral commentary, you will be missed.
By DB on Nov 25, 2009 | Reply
Best wishes JJ. Looks like you are getting back in at the very right moment! Stay in touch – DB
By ird on Nov 25, 2009 | Reply
congratulations,always thought this was a top notch blog. sorry to see it go but great to have you back in the game
By jg on Nov 25, 2009 | Reply
Congratulations, and break a leg, John!
By egc on Nov 25, 2009 | Reply
Congratulations. Your blog has been a class act in the blogosphere. I hope time and TD will permit continued posting–maybe an occasional Musical Interlude from the new TD/Across the Curve HQ.
By hunkofjunk on Nov 25, 2009 | Reply
“Made a note in my diary on the way here. Simply says: “Bugger”.
Blackadder Goes Forth, (1989)
ehmmmmm, that’s all a bit of a shame. This was the only place I’ve found in 20 odd years to explain the mysteries of bond markets to a simple equity guy. That you did it succinctly, and without flannel, made it very readable, constructive and added value.
Grateful thanks for all your efforts which have helped me navigate the storm. Good luck with your new challenge!
By leongcpa on Nov 25, 2009 | Reply
John,
Congratulations and good luck on your new endeavour.
By franko on Nov 25, 2009 | Reply
you and your readers always conducted themselves very well, despite inevitable difference in opinions – thanks and congrats
By GYSC on Nov 25, 2009 | Reply
JJ,
Good luck in the new setting, I imagine you will do very well.
Now where am I going to get the lowdown about the bond market????
By The Pragmatic Capitalist on Nov 25, 2009 | Reply
John,
Thanks for all your wisdom and congratulations on the new endeavor. I wish you nothing but success. You’ll be leaving a massive void in the financial blogosphere that me and the other writers will never be able to fill.
Best,
TPC
By John on Nov 25, 2009 | Reply
John,
You were always my first read every morning, and there will be a deep black hole in cyberspace with your departure. You have performed a valuable public service, and you are a gifted writer as well as an insightful professional.
I shall look forward to reading your market updates from your new domain. Good luck and best wishes, my friend. TD will be a better place for your presence. I see TD stock is up a $1 per share today on the news.
John
By DFTT on Nov 25, 2009 | Reply
Welcome back. Wasn’t long ago I took to hawking again for a competitor. Your’s was required reading. Far better written than say Gartman or ZH.
By Portia on Nov 25, 2009 | Reply
Maybe instead of your multiple daily postings you might post something thoughtful & analytical less frequently — not tracking the daily ups & downs but providing a slightly more distilled perspective?
By paul on Nov 25, 2009 | Reply
john – best wishes
By RS on Nov 25, 2009 | Reply
Congratulations JJ.
I am sure you will do very well in your new role. All the very best for the same.
Please continue to post whenever you have time.
RS
By Benedict on Nov 25, 2009 | Reply
John –
I too would greatly miss your work were you to stop writing. But there is no reason why you should! (Assuming, of course, that you have the time and inclination.) If Dave Rosenberg can continue writing what amounts to a daily blog while at Gluskin, there is absolutely no reason why TD shouldn’t ENCOURAGE you to keep writing for public consumption. In fact, if they had a feel for the influence of the whole social network / blogging “thing”, TD should be featuring you on the homepage of their website. It would be a real shame if the Treasury understood the influence of folks like you more than an important private sector actor like TD.
Congratulations, Happy Thanksgiving, and please keep writing.
By TJ on Nov 25, 2009 | Reply
Congrats JJ,
I’ve always been amazed by your expertise and experience in addition to the breadth of knowledge on the markets you are able to demonstrate on here.
Best Wishes,
TJ
By gab on Nov 25, 2009 | Reply
JJ – good luck with your new gig “hawking liquid rates products!” But, to play devil’s advocate, doesn’t all that stuff yield zero these days? They sure can’t pay you out of the spread!
By vol-trader on Nov 25, 2009 | Reply
Since being laid off in april, you have been my link to the street. For that I thank you. Good luck, and congrats at getting back in the game! If I ever get rehired (sarcasm), I will look you up on Bloomy.
By Imtiaz Chowdhury on Nov 25, 2009 | Reply
All the best. I have benefitted greatly from you contributions on this site.
By Kyle on Nov 25, 2009 | Reply
Just another congratulations and heartfelt appreciation for your contributions. There is truly no other information source quite like ATC, it will be missed greatly. Good luck with the job, Mr. Jansen.
By fuguez on Nov 25, 2009 | Reply
John – congratulations and all the best for the future, and a hearty thanks for the past.
By Fatbrick on Nov 25, 2009 | Reply
So glad to hear your new opportunity! But so sad to see the end of the blog! Happy holiday
By Ad Orientem on Nov 25, 2009 | Reply
Wonderful news and I wish you every success as you take the next step in your life. I will miss the blog if you find you are not able to keep it up. But I do understand of course.
Congratulations and have a joyous holiday.
Yours
John
By JG on Nov 25, 2009 | Reply
The powers that be can try to buy those who provide insight to the masses, but for every sell-out a new drop-out will appear.
An invitation from the FED and suddenly an offer from a TALF recipient.
How peculiar.
Thanks John. God help us.
By JG on Nov 25, 2009 | Reply
I read your blog religiously, I spent my day digging holes in a sand bar, literally. You were the 1 guy who still believed but told it like it was. I thank you and I will miss you.
By JG on Nov 25, 2009 | Reply
Any suggestions as to where a fairly rational person can go to get an unbiased opinion about the daily happenings in the bond market?
You’re killing me John!
By M on Nov 25, 2009 | Reply
Thanks John,
you were a great read, and hope you stay somehow in some form on the web.
Good luck in your new job!
By Bond Girl on Nov 25, 2009 | Reply
Congratulations, John. I’m very happy for you. I’ve really appreciated your wit and wisdom, and hope you are able to continue your commentary in some fashion.
By fred on Nov 25, 2009 | Reply
Congrats, happy to hear the good news but sad that you may not continue the blog (pls do) as it has been most instructive and useful. It also rekindle some interest in the English language too
By Johny on Nov 25, 2009 | Reply
Fantastic – Canadian banks a slowly but surely increasing their footprint in the U.S. A great opportunity!
We need someone to take the baton!
By FI Nagler on Nov 25, 2009 | Reply
Congratulations, you’ll be missed, I’ve learned so much from you, by far the clearest Fixed Income website I’ve found on the web.
By Zach on Nov 25, 2009 | Reply
JJ:
Grateful for the wisdom imparted, man. You are a first-rate intellect. Best of luck at the new venture. We’ll be right here waiting when you get back.
Z.
By SD on Nov 25, 2009 | Reply
Congrats John and all the best. I will miss your insight and humor, incase you do stop blogging. ‘Thankyou for the music!’
By David Merkel on Nov 26, 2009 | Reply
John, I really appreciate the “class act” that you have been for all of us in the blogosphere. There are many that will miss your commentary — there is no substitute for what you have done; there will be a void when you are gone.
And maybe, just maybe, your employer might let you continue as mine has (Yay Finacorp!). If handled properly (see my disclosures at the top right, bottom, and the “About Me & The Blog” page. If you want to talk about this, you can e-mail me.
Finally, I respect the way that you deported yourself at the US Treasury. You were substantive without being flashy.
With that, I wish you the best.
Ave Atque Vale,
David
By John on Nov 26, 2009 | Reply
Congrats! and Happy Thanksgiving…
By benj on Nov 26, 2009 | Reply
John,
Your blog has been a gold mine of useful information and insight, even for those uninitated lurkers like myself with only a hazy knowledge of the workings of the bond market. I hope you’ll be able to continue to share your thoughts (and also agile alliterations) with us in future.
All the best!
-Ben
By Belal on Nov 26, 2009 | Reply
John, Your work on this blog has been very helpful for me over the past year or so. Its the first place I have gone to in order get a real view of what has been happening in the US bond market. Thanks for all your help and I wish you great success in your new role.
BM
By belly on Nov 26, 2009 | Reply
Thank you!
By HJ on Nov 26, 2009 | Reply
Thanks for all the great insights. You have been great mentor. I am sad that after Brad Sestar, one of the guys I read the most is also going off the screen.
All the best.
HJ
By Rico on Nov 26, 2009 | Reply
Although I never commented on this blog or participated in discusstions, I’d like to thank you very much for all the informative and helpful posts on this blog. It’s been of great value for my daily work in the finance industry!
Wish you lots of success and great fun with your new task.
THANX!
By grateful on Nov 26, 2009 | Reply
Ditto to all the above, of course. Also, I think we all appreciated how you folded your family and its importance into your comments and reminded us of what’s most important.
By GreenAB on Nov 26, 2009 | Reply
congratulations John and i wish you a lot of success, you deserve it!
and thank you very very much for your outstanding blogging. you definately set the standard for educating the masses on the fixed income markets.
i know that all your power will be on your new project.
but if possible – please – could you keep writing the daily summarys, so that we nonpros aren´t flying blind on the bond markets?
again – all the best and thank you very much!
By Fullcarry on Nov 26, 2009 | Reply
Congrats John, Looks like a great opportunity.
By FormerlyknownasJS on Nov 26, 2009 | Reply
Wherever will I, in these troubled times, get my credit news dosed with Latin, sprinkled with alliteration, and delivered with admirable aplomb?
Your superlative blog has been a daily read for me. Thank you for all the time and effort you put into creating it. Your departure will leave a void, and your insights and commentary will be missed.
Congratulations on the new opportunity, and best wishes.
By John Black on Nov 26, 2009 | Reply
Congratulations…but I’ll miss this blog a lot. However, I’m delighted with your good fortune. Maybe your new employer will allow an occasional posting.
Best of luck in the future.
By sureshotscott on Nov 26, 2009 | Reply
JJ, congrats on your move. If this means your blog will be going away I’m sad to hear it, but I understand it gets to be ‘work’. Thank you for all your commentary over the last many months, it has enhanced my understanding of things financial greatly. Your writing, with great style, will be missed.
By Jason on Nov 27, 2009 | Reply
Congratulations John! You will be missed, but it sounds like you have a fantastic new opportunity on your hands. Across the Curve has been a daily staple of my news diet. While I’m not in the bond industry, your analysis/commentary have served as a critical proxy for the broader business climate in these crisis times via the bond market (arguably a more-influential gauge than the stock markets). Thanks for the highly entertaining, sophisticated (yet not so technical that someone from outside the industry can still enjoy), and thoughtful contributions!
By septizoniom2 on Nov 27, 2009 | Reply
congratulations to you on your new position. i have valued your insight and analysis on this blog for well over a year. your essential humanity, compassion, humility and sentiment has always shone trough your writings and i am sure this will guide you to great success and satisfaction. be well.
By phaesed on Nov 27, 2009 | Reply
Wow, I’m very sorry to see you leave, but congratulations. You are truly leaving a hole in the way many of us garner intelligent, informed knowledge with your departure. I wish you and yours the best.
By Allan on Nov 27, 2009 | Reply
It’s a pity we’re gonna lose your posts, both the serious and instructive as those funny ones.
However, since we all wish you all the best, it’s nice you’re getting back in the game, specially because you’ll be working on something you clearly appreciate, as we all your readers do.
Wish you a lot of happiness and success!
By pratik kothari on Nov 28, 2009 | Reply
Hi, congratulations on this great news. I used to enjoy your daily missives without fail and let me tell you your blog was so popular here in India that we all will miss you in case you are unable to continue writing. Any ways, thanks for writing nicely for this long and all the best for your next assignment. Thanks, Pratik
By IF on Nov 30, 2009 | Reply
Congratulations to the new job, but sad to see you go.
By ED Trader on Nov 30, 2009 | Reply
Great job. I will miss reading your work throughout the day
By Bman on Nov 30, 2009 | Reply
wow – how much one can miss in just a few days off. Good luck John and thanks for all the work you put in for us.
By Benjamin Chua on Nov 30, 2009 | Reply
Congratulations! I am going to miss your blog. Perhaps you can do the Macroman thing …
By Trading Nymph on Nov 30, 2009 | Reply
John, I too was a daily reader…I am really going to miss you! Good luck…any other bond blogs would you recommend?
By Lincoln Lowery on Nov 30, 2009 | Reply
Congratulations! I, along with many, will miss your words here (if that is to be…). Best wishes and thank you.
By nnyhav on Nov 30, 2009 | Reply
Yep, hearty congratulations! But alas for your regular readers … nonetheless, giving thanks for the effort you put into this. I do hope that your new employer considers that your continuing the blog under their aegis may be both strategically and tactically desirable.
By mkoval on Dec 1, 2009 | Reply
Congratulations JJ. Look forward to seeing you again on Bloomberg. I will have to hit you on IM when you are sitting behind the terminal. Best, Matt
By Lockstep on Dec 3, 2009 | Reply
Congrats JJ. I have benefited immensely from this blog and hope you continue at your new gig.
By daveinSV on Dec 21, 2009 | Reply
Congratulations and hope the new job is going well. Thanks for a great blog. Happy Holidays!