What recovery?
The next four quarters' earnings estimates are rebounding like a lead balloon.
The stock market is running on fumes. pic.twitter.com/gBJRyf9QAV
— Kevin C. Smith, CFA (@crescatkevin) June 26, 2020
A perspective on the steep road ahead for consumers.
Spending on durables and non-durables was supported by stimulus checks and UI benefits, while services spending rebounded after reopening.
Summer will be tougher with less fiscal aid & rising #COVID19 infections pic.twitter.com/3lKtdT3gzD
— Gregory Daco (@GregDaco) June 26, 2020
Open market hours:
“Bank regulators ease Volker rule”
After market hours:
“Fed caps bank dividends and bans buybacks through September”
2-year yields just broke down from key support.
Deep trouble ahead for banks. pic.twitter.com/xzQs4OoSVw— Otavio (Tavi) Costa (@TaviCosta) June 26, 2020
#recession … US #Banks edition$XLF $BKX $KRE 📉 t.co/vK8nJ89tOZ
— Invariant Perspective (@InvariantPersp1) June 27, 2020
Amid mass layoffs, U.S. personal income paid out by employers fell 8.3% in the three months through May. But add back the extra $600 in expanded unemployment benefits and incomes actually rose 2.3%. Massive difference (so far) from 2008-09 policy response t.co/05IJPCB6cK pic.twitter.com/9eHkFgW3Db
— Matthew B (@boes_) June 26, 2020
#recession … #StockMarketCrash2020 edition#RiskParity retreats as #Volatilty advances… #VIX 📈#SPX #SPX500 $SPY #ES_F $ES 📉 t.co/EdA0x72kej
— Invariant Perspective (@InvariantPersp1) June 27, 2020
Coca-Cola pauses advertising on all social media platforms globally t.co/CQr4mbannc
— CNBC (@CNBC) June 26, 2020