Jobless claims bottom before recessions. The last time these pension funds had enough assets to back their liabilities in full was on the eve of the Lehman Brothers bankruptcy in 2008

damn it looks like jobless claims bottom before recessions

almost like they're a… lagging indicator. pic.twitter.com/VjX8uL0Zn3

— Hedgeye (@Hedgeye) April 7, 2022

U.S. defined benefit plans no longer in deep deficits 🎉

“The last time these pension funds had enough assets to back their liabilities in full was on the eve of the Lehman Brothers bankruptcy in 2008” 😳@johnauthers pic.twitter.com/cHiJrhdN06

— Samantha LaDuc (@SamanthaLaDuc) April 7, 2022

Despite the most unstable fundamentals since 2008, $SPX has rallied since 2020.

This is because U.S. stocks were the “least bad” option and investors needed to avoid inflation.

As interest rates have doubled, cash is increasingly valuable.$SPX may be near dangerous waters.

— The Kobeissi Letter (@KobeissiLetter) April 7, 2022

Yellen warns that war in Ukraine will have ‘enormous’ global economic impact

• Treasury Secretary Janet Yellen cautioned Wednesday that Russia’s attack on Ukraine “will have enormous economic repercussions for the world.”
• She added that the U.S. is working with global organizations to provide aid to Ukraine and sanctions against Russia.
• Yellen also reiterated the White House’s commitment to the battle against the Covid-19 pandemic, stressing vaccine availability and readiness to address outbreaks.