crisis

Hopefully you saw my comments from this morning about the Fed. That was for subscribers only. So, if not, the gist was that I do not support the Federal Reserve's foray into the non-investment grade bond universe. It opens up a whole can of…

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…

In yesterday's newsletter I claimed that we are now in a financial crisis. That's because, for me, yesterday was the first day during the present market turmoil that felt like the Great Financial Crisis. And sure enough, the Dow Jones…

The awesome scale and scope of the coronavirus pandemic is now becoming clear as countries around the world enter lockdown and quarantine. And financial markets are in turmoil as a result. I am writing this before the open in NY. But…

I have been looking back at my posts and re-reading my coverage of this global health crisis to get a sense of what I got wrong and why. I know this sounds perverse. But I think it's critical to actively seek non-confirming information and…

We are now to the point where it's clear the coronavirus situation will last for weeks and months to come as more and more countries are forced into the lockdown and quarantine approach to slow the virus down. This is a matter of life and…

We are now facing the potential for a severe financial crisis, with all asset markets showing major moves toward safe haven assets. What has precipitated panic is the Saudi oil price cut at the weekend because it has caused oil prices to…

When I was thinking about writing this post earlier in the weekend I was only going to stress the GDPNow number. And the point was to reiterate how well the US economy was doing pre-coronavirus. And then I was going to make the abrupt…

With regard to coronavirus, I am still very much focused on the economic fallout. But I do want to circle back around to the themes that inspired my post on market structure vulnerabilities amidst a coronavirus pandemic. What’s inspired me…

*I started this post about 8:30 EST. So, hindsight tells me the part on market tone is on the money, as the market is selling off a bit. Market tone So, I was right yesterday morning about the potential for a relief rally. It was a pretty…