from TF Metals Report:
I like that title. Why call this the BPR when you can, instead, be more accurate and call it the CBPR…The Criminal Bank Participation Report.
Before we begin, the usual background:
The CFTC’s Bank Participation Report is issued monthly from a survey taken at the Comex close on the first Tuesday of every month. The report summarizes the combined positions of the four largest U.S. banks (primarily JPM, MorganStanley, Citi, Goldman but occasionally others) and the twenty largest non-U.S. banks (Scotia, HSBC, DeutscheBank, UBS, Barclays and others).
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