More smoldering wreckage.
Author: therealheisenberg
US Passes China For Most Coronavirus Cases During Trump Press Conference
“You don’t know what the numbers are in China.”
$586 Billion In Five Business Days: Fed’s Balance Sheet Balloons To $5.25 Trillion
Unlimited Fed buying versus a deadly, highly contagious respiratory infection. Pick a winner.
Donald Trump Has A Virus Plan.
“A number of our fellow citizens have tragically succumbed to its ravages, while many more are fighting for their lives.”
‘Nuclear’ Stimulus Bombs, No Entry To China And The Dow’s New ‘Bull Market’
“It’s not even a bazooka”, Jones went on to say. “It’s more like a nuclear bomb”.
Nomura’s McElligott Talks Flow Catalysts As VaR Shock Fades, Markets Eye Stimulus, Recession
“…despite everybody knowing this is just the beginning of a horrific few months of data to come.”
Record Surge In Jobless Claims Suggests Unemployment Rate Rose More This Week Than Any Monthly Gain In US History
“[That] would raise the unemployment rate by more than half, by 2 percentage points from 3.5% to 5.5%, moving back to 2015 levels in just one weekâ€.
Jerome Powell To NBC: ‘We’re Not Going To Run Out Of Ammunition. That Doesn’t Happen.’
“Essentially, the answer to your question is ‘no'”.Â
Mario Draghi: This Is A ‘Biblical’ Crisis. It’s ‘War’. Scrap The Rules, Cancel The Debt, Lend To Everyone Right Now.
“Much higher public debt levels will become a permanent feature and will be accompanied by private debt cancellation.”
Just ‘Trying To Go Up’.
“Markets are all over the place at the moment – and currently trying to go up”.
Meanwhile, In Singapore, A Rough Week Gets Worse
Coal mine canary.
Stephanie Kelton: This Is The Lesson Of The $2 Trillion Virus Stimulus Bill….
“The reality is that there is almost always enough slack in the economy to allow for an expansion of federal spending (or tax cuts) without offsets”.
Out Of Adjectives.
Crazy times, historic moves.
Ben Bernanke: Virus Recession More Like Big ‘Snowstorm’ Than Great Depression
“This is a very different animal”.
Coming Unemployment Crisis Plunges America’s Newly Jobless Into ‘Kafkaesque’ Nightmare
“We’ve never seen anything like it”.
‘Back-Of-The-Envelope’ Math From St. Louis Fed Shows US Unemployment Rate Surging To 32%
“These are very large numbers by historical standards”.
Going ‘Through Hell’
Meanwhile, on the pandemic front…
$2 Trillion.
“Absolutely, absolutely, absolutelyâ€.
Marko Kolanovic Offers Hope In Coronavirus Fight With Analysis Of Kinsa Smart Thermometer Data
“…the response evolves initially from under-reaction, then overreaction and then converges closer to an optimal response.”
Find Me A Sharpie, PTJ.
“I think Easter Sunday — you’ll have packed churches all over our country”.
Nomura’s McElligott: The Fed Is Now ‘Chief Risk-Taker And CIO’ (And Other Fun Market Notables)
So much to backstop, so little time.
Here’s What It Looks Like When Everyone Frontruns Jay Powell’s ETF Buying…
A $1 billion one-day flow bonanza.
PMIs Show US Economy ‘Decimated’ In March. Kudlow Says Trump May Reopen America Within Weeks
“…that doesn’t mean we’re going to walk away from advice of health experts”.
The Not-So-Great Coronavirus Debate Rages On: Kill The Global Economy To Save Lives?
“…but the faster the virus stops, the quicker and stronger the recovery will be.”
European Economy Suffers Catastrophic Hit From Virus Measures, March Data Shows
“…far exceeding that seen even at the height of the global financial crisis.”
Hope Floats.
“…a key lesson is that major wars are staggeringly expensive.”
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