“The burden of the downturn has not fallen equally on all Americans.”
Category: economy
US Retail Sales Double Up Projections, Surge Most On Record In Boon To Recovery Trade
These numbers will work for a market keen to pounce on any sign of good news.
A ‘Terrific Explosion’ (Or, Stimulus > Geopolitics)
It’s all fun and gains until…
‘This Cycle Does Not Defy All Precedent’: Morgan Stanley Doubles Down In Mid-Year Outlook
“We remain firmly in the camp that the economy is likely to experience a V-shaped recovery”.
Larry Kudlow Goes All In, Floats ‘I-Shaped’ Recovery Narrative Where ‘It Just Goes Straight Up’
“I don’t want to get cute here, I’m just saying…”
Somber, Regardless.
Last week saw the first real test of the bear market rally. The week ahead brings more challenges.
Larry Kudlow’s ‘Paying People Not To Work’ Claim Refuted By Jobs Report He Touted
“It’s better than their salary”.
The Rally’s Next Hurdle: A Wave Of ‘Second Wave’ Coverage
Remember: This is a headline-driven market.
‘Some Embers Flaring Up’
“I don’t know where that got started on Wall Street”.
Two Decades Of UK Growth Disappears In Two Months As Country Faces Worst Slump Since 1706
UK faces worst annual contraction in 300 years.
Albert Edwards: ‘The Great Melt’ Is Coming. But ‘Outright Deflation’ Is Here Now
“…there will never be any serious attempt to reverse policy stimulus.”
Household Net Worth Suffers Biggest Drop In History While Business Debt Explodes Most On Record
This is what it looks like when the “wealth effect” slams into reverse.
‘CHAZ’: Seattle’s New Autonomous Zone Shows A Nation ‘Fed’ Up
“Let them eat stocks”.
Jobless Claims Refute ‘V-Shaped Comeback’ Meme
Not exactly indicative of “the greatest comeback in American history”.
‘Reality Repression’: Markets Witness Biggest Disconnect In Modern History
“Nothing else matters”.
Coronavirus Throws Off Another ‘First Time Ever’ Moment For Economy, As Inflation-Deflation Debate Rages
It’s all noise – until it isn’t anymore.
‘Without Precedent In Living Memory’: Here Is The OECD’s Foreboding 2020 Outlook
“Extraordinary policies will be required to walk the tightrope towards recovery.”
Meanwhile, In The World’s Second Largest Economy…
Factory gate deflation bites.
Will Trump Let Republicans Jeopardize His Reelection By Refusing More Virus Relief?
“…progress on the next fiscal package remains elusive”.
Chapter 11 Bankruptcy Filings Just Surged 168% In One Week. Here’s Why…
Blame it on the bakeries.
Rethinking The Narrative
Who’s buying the “V-shaped” story?
There Can Be No Change.
We are powerless to change the narrative.
‘I Fell Off My Chair. We Need To Massively Revise Projections’: Market Stunned By US Jobs Report
“There will naturally be some doubt lingering about these figures”.
Rewrite The Script: Unemployment Rate Drops, As US Labor Market Stages Dramatic Rebound
An astonishing turnaround.
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”.
‘Silver Lining’ Disappears In Jobless Claims (Imagine That)
42.6 million and counting.
Six Months From Now, We’ll Know Who Was Disastrously Wrong
Extreme scenarios and the peril of screwing it all up.
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