Dollar shortage warning.
New lows for EM currencies with $BRL being decimated.
Blood in the streets?
Not even close.Wall Street still estimates a 20+% appreciation in $BRL and further rate cuts by end of 2021.
Good luck with that. pic.twitter.com/qrKJAJQ7OM
— Otavio (Tavi) Costa (@TaviCosta) April 24, 2020
https://twitter.com/HaulingWolves/status/1253666839307132928
Red flag in the Umich sentiment index: "prob of losing a job in the next 5 years" hit a record high of 18.9%. Expected biz conditions for next 5 yrs at a 6-yr low. Points to a rising savings rate/calls into question the narrative of future "normalized" profits not being dented. pic.twitter.com/DfKliyuMZJ
— David Rosenberg (@EconguyRosie) April 24, 2020
Longer term chart of the ECRI Weekly Leading Index to help put recent moves in context. Index is freely available for download here: https://t.co/BYc8b2omH9 pic.twitter.com/iQknObpmOj
— Economic Cycle Research Institute (ECRI) (@businesscycle) April 24, 2020
https://twitter.com/freezerohedge/status/1253714355171946496
Brazilian REAL is crashing the most since 2008..
— Alessio (@AlessioTMAD) April 24, 2020
Emerging market currencies remain weak as the USD shortage intensifies.
Export revenues and commodity prices collapse while the USD denominated maturity wall approaches. pic.twitter.com/OaJFyldIr1
— Daniel Lacalle (@dlacalle_IA) April 24, 2020
CORONAVIRUS UPDATE: CHINA, HARBIN CITY 10M PEOPLE ON LOCKDOWN AFTER 87-YEAR-OLD MAN TESTED POSTIVE AND INFECTED 78 PEOPLE, WITH 55 CONFIRMED
— First Squawk (@FirstSquawk) April 24, 2020