We’re not all the way down the road to 100% administered markets, but the crisis has accelerated our journey.
Category: Markets
Maybe We Need To Worry About COVID Inflation After All…
Sticker shock at the grocery store? Or too many “meat shortage” headlines?
One Year After Centennial Celebration, America’s Oldest Factory Index Falls Most In 101 Years
This kind of outright cessation of economic activity cannot possibly heal without scars.Â
US Retail Sales Are Total Disaster. Clothing Stores See 90% Plunge From Last Year.
April’s numbers were worse than already dour estimates. The comps with last year are astounding.
If You Squint, There’s Some Hope In The Empire Survey. But Mind The Capex Plans.
“Good” is an extremely relative term.
‘Dangerous Sparring’: Trump Turns Screws On Huawei, Prompting Chinese Threats Against Apple, Boeing
“If the US further blocks key technology supply to Huawei, China will activate the ‘unreliable entity list.”
Germany Suffers Second Largest Contraction Since Unification. And There’s More To Come.
“The recovery began with the cautious lifting of the lockdown at the beginning of May, but…”
China Logs First Rise In Industrial Output Since Virus, But Retail Sales Recovery Is More Subdued
Read the tea leaves, draw your own conclusions.
Behold! The Fed’s First $305 Million In ETF Purchases
Call it a “nibble”.
Zoltan Pozsar On Money Market ‘Singularity’ And War Finance
“If the Fed is backstopping the credit market, why wouldn’t it backstop its natural habitat?”
Unshackled (Redux): Nomura’s McElligott Sees Potential For Wider Price Moves Next Week
Prepare for a possible ‘unclenching’.
Jonathan Ferro Has A Message For Washington: ‘You’re Doing It Quite Wrong’
“If you’re looking for five tech stocks to break down before you do more in Washington…”
We’ve Reached The ‘P/E Ratios Are Irrelevant’ Stage
“…three-quarters of the way to the Tech Bubble high.”
36.5 Million And Counting
Fingers crossed that those describing their predicament as “temporary” are correct.Â
Trump Ramps Up China Threats. Says US ‘Looking Strongly’ At Chinese Stocks Listed On NYSE, Nasdaq
The US president also claimed he “has a lot of information” on China and the origins of COVID-19.
‘Barely Legal’
Dollars, dictators, Debbie downers and determined Democrats.
‘No Means No’: Critics Plead With Fed To Avoid Negative Rates Amid Pressure From Trump, Markets
“We are grasping at straws and if push comes to shove, anything goes”.
David Tepper: This Is The Second-Most Overvalued Market In History
“Do you feel the same way that Stanley does?”
Jerome Powell: The US Economy Is Drowning. Congress Needs To Spend More Or Risk Permanent Damage
“This reversal of economic fortune has caused a level of pain that is hard to capture in words.”
Of Doves And Depressions
“Whatever it takes.”
Stan Druckenmiller: ‘This Is The Most Bizarre Process I Have Ever Seen’
“The risk-reward for equity is maybe as bad as I’ve seen it in my career.”
Apple’s Many Eyes, ‘Dire Scenarios’ And A Glimpse At The New, Post-COVID ‘Normal’
“”If hot spots keep popping up it will be an ongoing reminder.”
The Stars May Have Just Aligned For Another Risk-Off Episode
… a reminder that despite the surprising durability of the bounce, downside catalysts are myriad.Â
Lindsey Graham Presses China Sanctions. Demands Beijing ‘Provide Full Accounting’ Of Coronavirus Outbreak
This sets the stage for spiraling tensions at a delicate juncture.
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