🇺🇸 S&P 500
US active managers are extremely bullish, as allocation levels are near extremes
— ISABELNET (@ISABELNET_SA) August 24, 2020
Debt keeps piling up … total-debt-to-EBITDA ratio for investment-grade companies climbed to 3.53 in Q2 (5.42 for high-yield), which is highest since 1998 (inception of @Bloomberg Intelligence data) pic.twitter.com/3AD5tEzp2I
— Liz Ann Sonders (@LizAnnSonders) August 24, 2020
The Dollar and Stocks have moved like a mirror image since March.
Their correlation has collapsed to near the most negative in history.
In a liquidity-driven market, the biggest risk could be *any* drop in liquidity triggering a USD rally – more than ever, watch it like a hawk. pic.twitter.com/leUc0jpK4g
— Macro Charts (@MacroCharts) August 24, 2020
Pre-sales have ballooned in recent years as other sources of financing have tightened – they have "ponzi-like features" because developers use pre-sales today to fund developments which were promised years ago – so today's buyers have nobody to fund theirs when the music stops pic.twitter.com/jJBDFJTHyW
— Mike Bird (@Birdyword) August 24, 2020
Not many left to squeeze.
"We become what we think about all day long." (Ralph Waldo Emerson) pic.twitter.com/Ej2oywnAt1
— RinoTaglia (@MVProfiles) August 23, 2020
As good as it gets?
Positive economic surprises are at an all-time high, doubtful that unexpected performance is going to be repeated in the fourth quarter. pic.twitter.com/5mkUqgfQ3O
— Tracy Alloway (@tracyalloway) August 24, 2020
A huge wave of layoffs is coming.. the reopening has been a failure for many companies.. PMI were just pricing the reopening not the recovery
— Alessio Urban (@AlessioUrban) August 24, 2020
There is a pretty decent chance the #Fed will disappoint #markets at the upcoming #JacksonHole meeting. While they will maintain their stance to do "whatever is necessary," they are unlikely to talk about doing #more in the short-term with stock and bond markets functioning well. pic.twitter.com/HWQgU5cHkC
— Lance Roberts (@LanceRoberts) August 24, 2020