https://twitter.com/NorthmanTrader/status/1298191702361018369
History doesn’t repeat itself, but it often rhymes. pic.twitter.com/2fzhclko6b
— Kevin C. Smith, CFA (@crescatkevin) August 25, 2020
Still wondering…..
If the housing market is booming, why is the Fed still buying record amounts of mortgage backed securities?
Their MBS holdings just hit record levels again. pic.twitter.com/h6WaSlAHrB
— Otavio (Tavi) Costa (@TaviCosta) August 25, 2020
How #QuantitativeEasing works in practice#cantilloneffect pic.twitter.com/frrnOePZBh
— Ronnie Stoeferle (@RonStoeferle) August 25, 2020
https://twitter.com/anilvohra69/status/1298193699126407171
#Money stopped flowing
The #velocity of money has dropped to an all-time low.#inflation https://t.co/I0sxCwlbbc
If you wish to receive the Daily Sketch by mail, please sign up here https://t.co/47UkUxDLoC pic.twitter.com/zB6njjIcgd
— jeroen blokland (@jsblokland) August 25, 2020
Different this time? pic.twitter.com/UKLgqfmKAB
— David Schrottenbaum (@David_Schro) August 25, 2020
Airlines still in pain>>#Qantas cutting 2500 jobs and #Finnair 1000 pic.twitter.com/6wZq1Gn5a7
— Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) August 25, 2020
https://twitter.com/TheBigMunchkin/status/1297892586414317570
While equities rally to new highs, U.S. real yields have stayed deeply negative, especially in the shorter-term. Inflation-adjusted 2-year & 5-year rates remain at around negative 1.2% & 1.3% respectively. pic.twitter.com/kB9CnrkdEr
— Lisa Abramowicz (@lisaabramowicz1) August 25, 2020
High yield defaults by rating pic.twitter.com/JCJz99OPDt
— Win Smart, CFA (@WinfieldSmart) August 25, 2020
Powell Set to Deliver ‘Profoundly Consequential’ Speech, Changing How the Fed Views Inflation
History will remember Paul Volcker and Jerome Powell as standing on the opposite ends of the inflation canyon, with the former taking desperate actions to try to tamp it down and the latter expected this week to announce an unprecedented effort to crank it back up.