An astonishing turnaround.
Author: therealheisenberg
Carte Blanche.
“The mood remains ‘risk on'”.
Red Ink, Too Much Cash, And A Witches’ Brew
The chances of meaningful change are slim. I can’t disagree. But “there are plenty of things to buy”.
A Record-Shattering Collapse In US Trade And Globalization’s ‘Nail In The Coffin’ Moment
“Without being melodramatic”…
‘Silver Lining’ Disappears In Jobless Claims (Imagine That)
42.6 million and counting.
ECB Adds €600 Billion To Pandemic QE Facility, Bringing Firepower To €1.35 Trillion
The bazooka gets larger.
Pause For Reset
It’s not surprising to see a bit of a regime flip, if only for a day.
Six Months From Now, We’ll Know Who Was Disastrously Wrong
Extreme scenarios and the peril of screwing it all up.
Socialism For The Rich: The Biggest Names In Finance Are Stone, Cold Hypocrites
Where’s your damn free lunch?Â
More Chaos: Esper Says Pentagon Doesn’t Back Using Military Against Citizens. Trump Bans Chinese Planes.
“I do not support invoking the Insurrection Act”.
Nomura’s McElligott On The ‘True Accelerant’ For An ‘Outright Rotation’
“Many of these previously ‘left for dead’ equities have beta/convexity to upside in economic growth or inflation”.
In 2020, ‘Winning’ Means Only Losing 2.8 Million Jobs In A Month
Another reason to believe in a “V-shaped” recovery?
Green Shoots From The Smoldering Ashes
A few visuals help explain cautious optimism.
Rally Mode.
“At the moment nothing seems to tire this equity market”.
Everything Is Wrong In The World. Except For Stocks. The Stocks Seem Fine.
74% say America is on the wrong track. But the stocks are fine. Thanks for asking.
It All Burns Down.
“A red flag to a bull, even if it is bullish for assets”.
Euphoric ‘Mothers’ And ‘Giant Painkillers’
“…symptomatic of a euphoric stock market”.
While You Weren’t Looking, China Launched A Little Soft QE
It’s “not QE” in a precise sense.
Dollars, Defiance And Democracy
“I can’t think of any market crash brought on by civil unrest”.
‘Thousands And Thousands Of Heavily Armed Soldiers’
Martial law – in essence, anyway.
2018 Flashbacks And Upside Down Bond Market Dynamics
“We hold the opposite view”.
‘You Have To Dominate’
“Are they taking us towards US collapse or renaissance?”
Nomura’s McElligott On ‘Big Deal’ Trend Inflections And June Sequencing
“…a broader distribution of outcomes [and] a wider range thereafter”.
Manufacturing Gauges Rendered Meaningless In COVID Crisis Suggest Economy Still Pretty Bad
“Two cautious comments for every one optimistic comment”.
‘Still Plenty Of Room For Stocks To Rise Further From Here,’ JPMorgan Says
“…collectively, investors are still underweight equities”.
China Mocks America For Violent Protests, Begins Canceling US Farm Imports
“Why does the US beautify the so-called Hong Kong independence and violent elements as heroes?”
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