Wednesday , April 8 2020
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Tag Archives: United States

Brief thoughts on the loss of 701,000 jobs in the US

The tenor of my recent posts to subscribers has been mostly about the real world economic outcomes being worse than anticipated. Today’s data flow is no different. Earlier today, I talked about the abysmal PMI numbers in Europe and the political outcomes that the human suffering behind those numbers will create. Now, let’s look at the US for a second because I think that will be the focus of my talk with Raoul Pal on today’s daily briefing at Real Vision. Unfathomable job losses...

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BREAKING: The Fed has announced unlimited QE to include many asset classes

Just after I hit go on the last post, we got a bombshell announcement from the Federal Reserve. And I’ve responded in real-time on Twitter. So, let me respond more quickly here very briefly too. The Fed is essentially putting a floor on multiple asset classes in the money and credit markets. Equities and high yield bonds are not in the mix. The point is that the Fed is saying it will backstop as many investment grade credit markets as it can — and in unlimited quantities. Why? The...

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