Highest stock prices during a pandemic/crisis?
WSJ: The Median S&P Stock Has Never Been More Expensive / Nasdaq @ Dot Com Bubble level valuations@ericrosengren @RobSKaplan @neelkashkari @RaphaelBostic @marydalyecon @steveliesman @byHeatherLong @NickTimiraos @michaelsderby @boes_ pic.twitter.com/mwEm6XlD7r
— M/I_Investments (@MI_Investments) August 24, 2020
This chart is the BIGGEST issue for USD bears over the next 2-3 month. Issuance has clearly outpaced QE again, which is usually a fairly USD liquidity negative signal.
— AndreasStenoLarsen (@AndreasSteno) August 24, 2020
With this level of disconnect from fundamentals, it's gotten a lot harder to laugh at such prognostications.
— Apollo Trading (@apollotradingsd) August 24, 2020
I can’t wait for Jerome Powell to explain to millions of Americans with no assets or stock exposure, that 2% plus inflation is a good thing
— Nicholas Ramos (@NickVRamos) August 24, 2020
Last night Trump Pump cure and tonight China 🇨🇳 Deal… LOL All the stops ✋ are out with the Republican Convention. Shorts are at a 15 year low. Probably the same with the PUT CALL RATIO pic.twitter.com/udkEm6dg2E
— David Larew (@ThinkTankCharts) August 25, 2020
The Fed has created a speculative bubble that has pushed debt levels beyond what the U.S. economy can support, Leon Cooperman said.“They have created a real speculative environment,” Cooperman said Monday on Bloomberg Television.
“We are not sure how and when we will see the end-game, but in our view this is not a sustainable situation in the long term.”
The next Great Depression is here. Investors obviously disagree. And by the looks of all the debt they are snapping up (see Bond Market section), they are vehemently opposed to the idea that debt can be risky. But here too, there is an important divergence.
The global economy faces a risk of a slow recovery or even another slump along the way unless a vaccine is found, according to Nouriel Roubini.