“We look forward to the wealth effect of the capital market”.
Category: Markets
There’s A New Bull In Hong Kong. And Xi Is Cracking Down Harder On Dissent
“He kept a bag with clothes and a toothbrush hanging on his front door so he would be ready for this”.
More Debt, More Liquidity, Higher Stocks (Hallelujah)
“I’ve heard there was a secret chord”…
Over The Line! Who Will ‘Tolerate’ Higher Long-End Yields?
Nobody, probably.
Goldman: US Recovery To ‘Stall’ Amid ‘Dramatic’ Virus Surge
“…officials have paused or reversed reopening in states containing more than half the population”.
Fast and Furious.
2020 is not a year during which you can write off indeterminacy using that old adage: “There’s always uncertainty”.
Shattered Dreams (Wile E. Coyote)
That’s your Wile E. Coyote moment.
SpongeBob SquareBanks.
How much duration supply will the central bank sponge soak up?
No Good Answers (Crunch Time)
“…we see a high risk of a more orderly setback for risk assets”.
To Hell And Back Again (What The Flows Are Saying)
It’s been a wild ride.
‘It Can Always Get Stupider’: Nasdaq Bubble Warnings May Be False Equivalence
“…it’s hard to have that real conversation”.
China Rising. Europe Trying. Brits Drinking.
Responsible behavior.
Harley Bassman Interview: ‘The Long, Slow Road To Inflation’
“Truth be told, I kind of like – I can’t believe I’m saying this – I actually think I’m bullish on stocks”.
Close Proximity
“I’ll take it”.
Ray Dalio: We No Longer Have Free Markets
“The Fed will set an interest rate for different types of creditors based on its economic objective”.
Nomura’s McElligott: The Machines Are Getting Long And Covering Shorts In Real-Time
“Remember my generic thinking on these strategies: ‘Volatility is the exposure toggle.'”
Now For The Bad News From The June Jobs Report…
For many, “temporary” precarity has become permanent.
Blockbuster: US Economy Adds 4.8 Million Jobs In Eye-Popping June Payrolls Report
Now questions will turn to the necessity (or not) of another stimulus package.
The Tension Is Thick. But Not As Thick As The Summer Air
…a perfect super spreader event, I might add.
Prayers And Fundamentals.
Joie de vivre.
Fed Not Ready To Roll On Yield-Curve Control
September implementation may be a stretch.
Optimists Get More Ammo As ISM Climbs Higher
Still, it’s a long climb out of this dark basement.
Is The US Labor Market Back? Wild Revisions And Rampant Ambiguity
Getting a “clean” read on things is well-nigh impossible.
You’re Under Arrest. (Welcome To The Third Quarter)
On that happy note, the third quarter (and second half) of 2020 is underway.Â
Harley Bassman: This Combo Will End In Tears, But Success Is Likely In The Medium-Term
“I must confess the notion of buying the SPX near 3000 sounds silly”.
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