Thanks to the Fed companies are even more levered AFTER the crash than before. The coming wave of defaults looks like it is going to be brutal. BofA cautions on fake markets.

twitter.com/paranoidbull/status/1265119849816240128

 

LONDON (Reuters) – Analysts at BofA said the cash mountain stockpiled by investors during the coronavirus outbreak looks to have now peaked and cautioned that rampant central bank stimulus was fixing bond prices and creating “fake markets”.

Powell’s Problem? ‘He Can’t Print Jobs,’ Says Fed Watcher

“He wants to print more money, because he wants to put it into the hands of the lowest third of income earners.”

Hertz Files for U.S. Bankruptcy Protection as Car Rentals Evaporate in Pandemic

The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.