Further action needed.
Monetary/fiscal stimulus aren’t nearly enough to quell the losses in asset prices and the shortage of dollars worldwide.
It’s the beginning of a recession, not the end.
The S&P 500-to-Gold ratio is still above 1929 peak levels.
Buy gold & sell stocks. pic.twitter.com/Iu6CsebV3c
— Otavio (Tavi) Costa (@TaviCosta) April 13, 2020
I sense that everyone is bearish the dollar due to the Fed actions. As you know, I am firmly in the dollar bull camp.
This chart helps explain my view – the dollar is cyclical and as the ISM falls to 35 or lower, the dollar should rally hard (+18%) (Dollar inverted here) pic.twitter.com/Y0sBdU5fmj
— Raoul Pal (@RaoulGMI) April 13, 2020
With liquidity runway and leverage levels at the center of investor concern, IWM vol vs. SPY vol has reached record differentials. YS #DriehausAlts pic.twitter.com/LcWR0A6t3o
— Driehaus (@DriehausCapital) April 13, 2020
"Corporate America has tapped nearly half a trillion of revolving debt" https://t.co/bo2PBQfKB6 pic.twitter.com/GZZ4vFGKLQ
— Trevor Noren (@trevornoren) April 13, 2020
While it’s plain the Fed can boost the prices of everything from stocks to junk bonds to CLOs. But the prices of households’ biggest holding – residential real estate- are much stickier on the way up & down. It’s unlikely prices & activity will rally back hard
ht @chigrl pic.twitter.com/1BNekRZOIu
— Danielle DiMartino Booth (@DiMartinoBooth) April 13, 2020
NY Fed's brand spanking new, just released Weekly Economic Index pic.twitter.com/s9lP4YCh4C
— Not Jim Cramer (@Not_Jim_Cramer) April 13, 2020