Just to put things into perspective: After the fabulous gains on the stock market in the 1920s, the crash began just on Sep4th, 1929! pic.twitter.com/NYPrZ25vB5
— Holger Zschaepitz (@Schuldensuehner) September 4, 2020
S&P 500: We have seen 2 days of deep red in $SPX leading to the FIRST break below upward trending channel stemming from March 2020, at 3430.
The daily RSI fell below 53 support, middle Bollinger Band broken, at 3426, for first time since June 24.
— The Kobeissi Letter (@KobeissiLetter) September 4, 2020
A market rigged to "reward" the worst financial conditions since the Great Depression – not go down a little, not stay flat, but go Parabolic – is the definition of financial INSTABILITY because the risks (passive funds, margin, FOMO, TINA) just keep building up (Wall St vs Main) pic.twitter.com/1oZwg0Eehe
— M/I_Investments (@MI_Investments) September 4, 2020
— 𝕮𝖍𝖎 🛢️ (@chigrl) September 2, 2020
Powell better pump these numbers up…
“Marginal” monetary expansion isn’t enough to keep this party going. pic.twitter.com/VKHYnjnID8
— Otavio (Tavi) Costa (@TaviCosta) September 4, 2020
Global equity valuations have gone through the roof! On a price to sales ex-financials basis, valuations are at their 2nd most expensive lvl in 40Y, surpassed only by the Mar ‘00 peak. pic.twitter.com/grYBMnqnhj
— Julien Bittel, CFA (@BittelJulien) September 4, 2020
CORPORATE DEFAULTS ☠ pic.twitter.com/mHPEOYA3Hj
— Win Smart, CFA (@WinfieldSmart) September 4, 2020
We have a long way to go before we are fully recovered, but I will say this employment report was a very positive one,” Boston Fed President Eric Rosengren told CNBC’s Steve Liesman during an interview on “The Exchange.”
Worries of a K-shaped recovery are growing in the alphabet-obsessed economics profession. That would entail continued growth, but split sharply between industries and economic groups.
The Fed Emperor’s New Clothes Show is a continuous comedy without laughter. The latest act, the virtual Jackson Hole conference (August 27), was dreadful.
Yesterday, the Congressional Budget Office released updated budget projections. The most important numbers in that report show what’s happening with the overall fiscal burden of government…