*We have expressed a firm conviction in recent weeks that optimism in the global economy would, unfortunately, continue to ebb and that this would drive FX in an ever more defensive direction. We see no reason to reconsider this basic premise
Pg 1-3 pic.twitter.com/dGlSftey3D
— Alex (@Alex10050409) February 28, 2020
Corrections are common, but they rarely happen in 6 days after hitting a record high.
Stocks are oversold, but this isn’t necessarily a great buying opportunity if earnings are impacted.
The earnings that we thought we were paying for have vanished.t.co/kOtUPhAdpL
— UPFINA (@UPFINAcom) February 29, 2020
MORGAN STANLEY: “It now looks like the surge last fall was a false breakout driven by Fed provided liquidity.” (Wilson) pic.twitter.com/6ZPWzg0j6X
— Carl Quintanilla (@carlquintanilla) February 28, 2020