It Could Get Worse
Platitudes.
Platitudes.
“Confidence”.
It looks as though it’s time to finally exorcise all our post-crisis demons.Â
Lagarde is credible. It’s just not clear whether she’s credible as a central banker. We’re about to find out.
It will not surprise you to learn that Edwards doesn’t think stocks are “cheap” after rout.
Still nebulous.
“This is the end / My only friend, the end”…
Of mice, men, stocks, bonds and viruses.
Fragile. Handle with care.
“In a significant way”.
“…since the beginning of the COVID-19 panic, there’s been a ~90% plunge in futures market depth.”
Things didn’t go according to plan.
“Whatever it takes”, I suppose.
Either way…
In the space of just seven trading days, US equities went from bubble to bust.Â
“Not to put too fine a point on it, but”…
“It is not a good sign when”…
“It’s such a shame.”
And yet, markets still haven’t really sold off in a manner consistent with “capitulation”.
If you’re looking for a savior amid the chaos…
“As a Fed board member, ask yourself what are the consequences of being late?”
“We’re in touch with the Fed people all the time”.Â
It depends on your perspective, I suppose.
“Afflictions”.
…too many market participants shrieked, all at once, into the digital void.Â
“The United States is determined to prevent the looting of Venezuela’s oil assets”.
“King dollar” can be a real pain sometimes.
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