There Will Be Scars.
But “there are believers out there.”
But “there are believers out there.”
There is only the “new normal.”
The headline index is being artificially boosted by a surge in the supplier delivery times.
No one can see the end of the tunnel – or if they can, there’s little attention being paid to it.
Pride goeth before destruction, and an haughty spirit before a fall.
“These changes are being made to address highly unusual disruptions in Treasury financing”.
It’s getting scary out there.
“Dollar funding is always the orphaned child of crises”.
Needless to say, oil’s worst week since the crisis didn’t help.
“Unimaginable violence” and emergency intervention…
And yet, markets still haven’t really sold off in a manner consistent with “capitulation”.
One last push to rescue the world.
“I have an ugly vision of the future.”
Head in the sand?
“The coronavirus appears to have hit trade quite a bitâ€.
“I am by no means suggesting you run out and buy this ‘green’ list.”
What could bring back September’s shock reversal?
“Eventually we will reach a point where the US dollar rise will sow the seeds of the stock market’s demise.”
But they’ll be fine…
“Central Banks will be back to buying anything with a CUSIP”.
…no matter how fleeting the bounce may prove.
Quite a bit to digest, but perhaps not much to move markets other than at the very front-end.
On the off chance the world doesn’t end this month or next…
“You are just a degenerate river-boat-gambler”.
This really wasn’t supposed to happen.
“Strategists such as Nomura’s Charlie McElligott and Marko Kolanovic have been elevated to god-like status”.
There’s a silver lining, though.
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