Here’s A Thought: What If (Almost) Everybody Is Wrong?
“This would be perhaps the biggest surprise to markets.”
Caveat Emptor.
Of course, all the usual disclaimers apply.
Morgan’s Mike Wilson On The Rally: This Looks Like 2009 With ‘One Major Outlier’
With financial repression alive and well, “it really isn’t different this time”.
An Aggrieved Howard Marks Warns Fed Action Risks Creating ‘A Fake, Potemkin Market’
Another incredulous “legend”, robbed of an opportunity to make (more) millions.
Nomura’s Charlie McElligott: ‘Money Printer Go Brrrrrrrrrrrrr’
Also, there’s vaccine euphoria in the air.
‘The Chinese Are Buying Everything In Sight’: Xi Conjures Astounding Oil Demand Recovery
Chinese oil demand seen in ‘remarkable’ rebound to near pre-virus levels.
Damn The Depression. Onward And Upward. With Apologies To The ‘Legendary People’
It’s not “supposed” to be this way, after all.
Tensions Weren’t High Enough, So Peter Navarro Accused China Of ‘Seeding’ New York With Virus
“That’s why I say the Chinese did that to Americans”.
Jay Powell Skeptical Of Full Recovery Without Vaccine. Says ‘No Limit’ To What Fed Can Do Under Lending Powers.
“There is… no limit to what we can do with these lending programs”.
Imagine This: 25% Of America’s Restaurants May Disappear Forever
For many of these establishments, it’s already too late.
Goldman: Quarterly EPS Growth Will Be Negative At Least Through 2020
A maddeningly slow rebound.
The ‘Winner-Take-All’ Market And Our ‘Scroll Hypnosis’ Economy
“The stuff that can grow”.
Trump, Pompeo Risk New Firestorm With Brazen Move Against State Watchdog
You should expect an investigation.
Pandemic Panic Produced Historic, Quarter-Trillion Decline In Foreign Treasury Pile
March’s historic tumult produces another record.
Will Trump Gamble 20% Of The US Stock Market To Pursue Big Tech Grudge? ‘Stay Tuned!’
An “illegal situation”.
Administered Markets: The Ultimate Manifestation Of ‘Don’t Fight The Fed’
We’re not all the way down the road to 100% administered markets, but the crisis has accelerated our journey.
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?”
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