From ‘We’re All Gonna Die’ To 15-Sigma ‘Hope’ Shocks (And Beyond)
Nothing is certain in life besides truisms, tautologies, death, and taxes, and even the latter
Nothing is certain in life besides truisms, tautologies, death, and taxes, and even the latter
Perhaps the most important thing to understand about the societal unrest that continues to play
It’s now widely (if begrudgingly) accepted that many developed nations are engaged in a version
No, Donny, these men are nihilists. There’s nothing to be afraid of. —Walter Sobchak “Nothing matters but liquidity”, BofA’s Michael
“I actually agree with this”, Donald Trump said over the weekend, referencing a video from
As evidence mounts to support the contention that economic activity in the US is leveling
Over the course of the market’s dramatic rebound from the March panic lows, one of
Markets seem generally numb to it all by now, but news flow surrounding America’s ongoing
“Markets are not behaving in a conventional way, in any historical, traditional or logical metric
Equities’ phoenix-like rise from the ashes of March is increasingly difficult to rationalize.
“…we see a high risk of a more orderly setback for risk assets”.
Still, it’s a long climb out of this dark basement.
Of course, the list of things that could go wrong is obviously quite long. But you already know that.
They say it promotes “transparency.” It’s important, they say, for the public to understand “the process.”
Also, there’s vaccine euphoria in the air.
But “there are believers out there.”
“An EM crisis is not an abstract possibility – it is the current reality”.
“The point of equity funding over debt funding is it does not need to be repaid.”
“…their exclusion will also not incentivize risk-taking by banking organizations.”
“I mean, seriously Jon, let’s get real, what do you want me to do?”
“The functioning of major government bond markets has been impaired”.
Wartime.
Now this a “whatever it takes” moment.
“I haven’t made any decisions on that”.
“…not randomness run amok, but an essential instability to changes in initial conditions”.
“These changes are being made to address highly unusual disruptions in Treasury financing”.
“…since the beginning of the COVID-19 panic, there’s been a ~90% plunge in futures market depth.”
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