Is it already priced in? Depends, of course, on who you ask and more importantly which market is carrying out the presumed discounting. Stocks surged on the idea that though this is epic in its misery we’re already getting past the worst. Short run disruption, a big one, but nothing more. It’s almost preprogrammed at […]
So, BLS just printed their April 2020 numbers of official non-farm payrolls: https://www.bls.gov/news.release/empsit.t01.htm. And things are, expectedly, ugly.Civilian ‘non-institutional’ population is up 1,203,000 y/y, while employment is down 23…
The BLS reported a seasonally adjusted 20.5 million jobs lost in April and stocks rallied on the news. Wall Street loves both death and unemployment apparently.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Fed QE $8.000B Coupon Purchase 2020-05-08 NYFed treasury securities operations
Once the government’s ability to sustain its enforcement with money created out of thin air vanishes, the entire order vanishes along with it.The era of waste, greed, fraud and living on borrowed money is dying, and those who’ve known no other way of l…
Like the last couple years of the US unemployment rate, increasingly China’s trade data finds itself in isolation without corroboration.
We though the Great Recession was bad… until we got COVID19:
No, folks, the markets are still not in line with fundamentals.
