So much more to play out for the Macro Trade of the Century. It's all about playing the overdue downturn in this once in a lifetime economic cycle. Many ways to get alpha as well as beta to these 3 key macro legs. Add a sovereign bond spread to get a 4th. There is an alternative! https://t.co/rNszpupy76
— Kevin C. Smith, CFA (@crescatkevin) March 5, 2020
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?
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 bondsGot gold? pic.twitter.com/p0vYs7kOSU
— Otavio (Tavi) Costa (@TaviCosta) March 6, 2020
Credit Market Endures Worst Day in a Decade on Virus Rout
Fed in full systemic panic mode…
— PlungeProtectionTeam (@gamesblazer06) March 6, 2020
Financial conditions continue to deteriorate quickly, now at the worst level since 2011. Central banks very likely to come up with more easing soon! pic.twitter.com/Rb5UyEIZoR
— jeroen blokland (@jsblokland) March 6, 2020
S&P 500 dividend yield exceeds 30y Treasury yield by the most in history. pic.twitter.com/EpEyN7MRvI
— Holger Zschaepitz (@Schuldensuehner) March 6, 2020
S&P 500 dividend yield exceeds 30y Treasury yield by the most in history. pic.twitter.com/EpEyN7MRvI
— Holger Zschaepitz (@Schuldensuehner) March 6, 2020
Oil just shit the bed. Bringing the whole complex down with it
— THE LONG VIEW ⚫️ (@HayekAndKeynes) March 6, 2020
$HYG going out pic.twitter.com/pHuQnDSZnx
— Eric Basmajian (@EPBResearch) March 6, 2020
Highest $VIX reading since the financial crisis. pic.twitter.com/Rm1g2p4Cld
— Sven Henrich (@NorthmanTrader) March 6, 2020
US credit markets are suffering their worst day in a decade: Fear gauge surges most since at least 2011 as the escalating outbreak becomes an increasing threat to the economy and corporate cash flows. https://t.co/Pxn78bKPqe pic.twitter.com/g38tvXepDL
— Holger Zschaepitz (@Schuldensuehner) March 6, 2020
What does a negative 10-year Treasury yield mean? The Fed is almost out of room to cut rates. If you can't cut, next best thing is to keep rates at 0 for a very long time. With some inflation, that means negative real interest rates. Markets may be pricing a new normal… at 0! pic.twitter.com/hxqgIW2UQb
— Robin Brooks (@RobinBrooksIIF) March 6, 2020
I'd tap that equity. pic.twitter.com/ovONSdYG9i
— Rudy Havenstein, Chickenpox Survivor. (@RudyHavenstein) March 6, 2020