What Just Happened? The Historic Selloff Explained By Nomura’s Charlie McElligott

What Just Happened? The Historic Selloff Explained By Nomura’s Charlie McElligott

China's record-low PMIs combined with what will almost surely be more dour news flow over the weekend around the spread of the coronavirus look poised to compel the Fed to do more than issue perfunctory remarks. Friday's brief statement from Jerome Powell contained key language ("closely monitoring" and "act as appropriate") that probably presages a move, but the sense of urgency was lacking. As I discussed at length on Friday evening, it's not clear how effective a policy rate cut will actual
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4 thoughts on “What Just Happened? The Historic Selloff Explained By Nomura’s Charlie McElligott

  1. This morning I read what I’ve read many times over the years:

    “Don’t panic and raid your 401(k) or IRA in order to go all in on cash. History shows that investors do a poor job of trying to time the tops and bottoms of the market. It’s better to stick with your investments through the inevitable ups and downs.”

    This from a CNN lightbulb dimly glowing in their financial section. I did NOT followed this advice in 1999, 2001, 2008 and recently as well. It amazes me that horeshit can stick around for such a long time. This time it took all of 10 mins and seven mouse clicks to higher ground. I never got, and will never get, this sort of thinking.

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