11Ys later t.co/WU6NsnJDcF pic.twitter.com/ax4hUO4cJD
— GregTheAnalyst (@Analyst_G) September 17, 2019
ig credit issues starting to emerge pic.twitter.com/bklVXnXyZm
— Alastair Williamson (@StockBoardAsset) September 17, 2019
"Nobody Knows What's Going On": Repo Market Freezes As Overnight Rate Hits All Time High Of 10% t.co/ndavmDzvjl
— zerohedge (@zerohedge) September 17, 2019
This is huge. Mike Wilson of $MS is spot on. t.co/PgD0bm6XaT
— Mr. Miguelli (@MrMiguelli) September 17, 2019
1. Repo rates explode most on record
2. NY Fed scrambles to conduct repo to inject emergency liquidity and calm markets
3. 15 minutes later, NY Fed announced repo canceled due to technical difficulties.— zerohedge (@zerohedge) September 17, 2019
Lehman Brothers filed for the largest ever bankruptcy 11 years ago, on September 15, 2008. Many things changed that day, but the most lasting impact is arguably what’s happened to the money supply — what a chart pic.twitter.com/0B8gqTflLc
— Alex Rampell (@arampell) September 15, 2019
it should be obvious why trump is begging for negative interest rates, quantitative easing, and emergency tax cuts pic.twitter.com/L1QEcfZ7QM
— Alastair Williamson (@StockBoardAsset) September 17, 2019
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Bank of America surveyed 235 fund managers, asking them a variety of questions including how likely a recession in the next year is, and whether interest rates were to rise.
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Few in the survey said interest rates would rise within the next 12 months, while the number who said a recession would hit in the next year was the highest since 2009.
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Most also said that a resolution to the trade war doesn’t look likely before the 2020 election.
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The other takeaway, BoA says: “It’s time for fiscal stimulus.”
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Global fund managers have increasingly become more worried about the state of the economy, and according to Bank of America’s global fund manager survey, the risk of recession is at its highest since 2009.
The survey, released on Tuesday, surveyed 235 fund managers who manage a combined total of $683 billion, showed that 38% of fund managers expect a recession within the next year — the highest net percentage to say so since the depths of the financial crash in 2009.
The survey also showed that fund managers aren’t expecting great things from the economy, ahead of what’s expected to be a Federal Reserve rate cut this week. Just 21% of the fund managers expect a rise in short term rates in the next 12 months.
BAML
China’s slowdown deepens; industrial output growth falls to 17.5-year low