It’s the liquidity, stupid! Global money supply has driven markets. Liquidity drain has led to sell-off in 2018, liquidity injection in Dec helped rebound in S&P 500. pic.twitter.com/nt9KP6omAt
— Holger Zschaepitz (@Schuldensuehner) January 19, 2019
1. Deflation Risk: over 80% of world equity markets are in “deflation” (price negative YoY%) — a sign of things to come? pic.twitter.com/CMh2NFTjJB
— Topdown Charts (@topdowncharts) January 18, 2019
Forget Brexit, Trump, the ECB, the BoJ….this is what matters most to markets by far, and most other things are a response to it in one way or the other pic.twitter.com/oN7ISYwXJz
— David Schrottenbaum (@David_Schro) January 19, 2019
BBB spreads are at close to their tightest levels to the BB tranche – likely a function of the deteriorating credit quality of the lowest run in IG. YS #DriehausAlts pic.twitter.com/FdeJYaShi0
— Win Smart, CFA (@WinfieldSmart) January 18, 2019
Net debt/EBITDA of the companies in the Russell 3000 index has never been this high for what is still a good economy. One should expect that net debt/EBITDA would increase in a recession, as it has in the past – a function of weaker denominator. https://t.co/Qsyh6p2MAL pic.twitter.com/dWOT3tiMoL
— Jesse Felder (@jessefelder) January 19, 2019