The macro trade of the century is breaking out. Coronavirus was just the final nail in the coffin for this cycle. Fed in full systemic panic mode…

Synchronized global debasement.

BOJ, ECB, RBA, BOC and the Fed all together just added $625B to their balance sheets.

Last time this happened in such a short period of time was 8/2008.

– The entire Treasury curve is below inflation
-$14.5T of neg yielding bonds

Got gold?

Credit Market Endures Worst Day in a Decade on Virus Rout


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