And this is why we have not seen the bottom yet.
Until full capitulation is reached…we will remain volatile.
(Most) Investors have a bad habit of buying at the top and selling at the bottom, and as long as most remain full bull, we aren't done.t.co/j8NdrSaSb6
— FreeMarkets-TQN-👑 (@TechQn) March 7, 2020
High yield CDX 5.7 sigmas above its three-month mean, worse than anything we saw in 2015 or 2018 pic.twitter.com/wTLaIEYb5C
— Luke Kawa (@LJKawa) March 9, 2020
What *could* the $FED do?
-Cut rates further (to zero)
-Asset Purchase Programs aka QE…
–Twist (sell short term buy long term)
–Cease MBS runoff
–Begin new classic QE program (buying treasuries)
—Expand to munis
—Expand to corporate bonds
—Expand to REITs and Stocks
— Callum Thomas (@Callum_Thomas) March 9, 2020
The Bloomberg commodity index is its lowest since July 1986, and close to its low since inception. pic.twitter.com/xwECK9Caag
— John Authers (@johnauthers) March 9, 2020
— Mike "Mish" Shedlock (@MishGEA) March 9, 2020
Recession is either weeks away or started last week…..
— WestPacific Market Analytics (@wstpacglenn) March 8, 2020