Carte Blanche.

Carte Blanche.

With the Trump administration seemingly too preoccupied with nationwide demonstrations and the president's slipping poll numbers to worry about further escalations with China, risk assets had carte blanche to push higher this week. Airlines, automakers and hotels paced gains in Europe Friday, in a continuation of a pro-cyclical bent in markets, where investors are becoming more comfortable with the notion that reopenings across economies will be successful and that trillions in fiscal and monet
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3 thoughts on “Carte Blanche.

  1. Hope and denial. That seems to be the plan. Same plan as humans always have. Not a bad way to start the day.
    The timings of the reopenings were definitely going to put pressure on the dollar. United States current political instability may also further that affect.
    Fiscal Hawks will use this as evidence to their cause.

  2. The appalling labor market will quickly be followed by a climb to prior highs in the S&P, at the current pace of ascent the index will be there by June options expiry, presumably the NDX will be at least a prior highs by then as well, it has served as a source of funds in the rotation but buyers will soon jump at the dip. Truly remarkable to see the price action given where we were in late March. I have a friend who directs TV commercials and who had a passing interest in markets, but since the recent confinement has taken to trading with his Robinhood account and was exhilarated yesterday sending me screen shots of the crazy moves up in airline and Hertz, just like a kid playing a video game, appropriate if you ask me. May be the solution to the crisis is to make sure that with any unemployment benefits the claimants also receive a free Robinhood account with $100 already on it, what could be more American than that?

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