$USD liquidity is withdrawn from markets again! GFC can’t compare with Covid jobs shock. How bad will defaults get? V Recovery? How?

$USD liquidity is withdrawn from markets again!

The US Treasury builds up cash faster than the Fed prints..

This is likely the reason why risk assets have run out of steam.

How to trade it? -> t.co/HzMmS383rg pic.twitter.com/8SmhZcNQ5I

— AndreasStenoLarsen (@AndreasSteno) June 14, 2020

GFC can't compare with Covid jobs shock pic.twitter.com/5TIdZBAT6q

— Win Smart, CFA (@WinfieldSmart) June 15, 2020

How bad will defaults get? pic.twitter.com/wKdn4wRw3B

— Win Smart, CFA (@WinfieldSmart) June 15, 2020

🇺🇸 V Recovery? How?🤔 #COVID19 t.co/CjZWO19D4N

— Antonio Pérez Algás (@apanalis) June 15, 2020

HUGE DEFAULTS pic.twitter.com/lkBrvS5Kfz

— Win Smart, CFA (@WinfieldSmart) June 15, 2020

Stealing this from @mcm_ct_markets because it mirrors my view exactly.

It’s going to be a bumpy few weeks. Note that depending on how Sunday goes, the bounce may be nil. pic.twitter.com/UAIC4u4yMF

— Howard Axelroark (@axelroark) June 13, 2020

For 30% of the U.S. unemployed, job losses may stick t.co/x70j83TLDD pic.twitter.com/rSKx9hgBW2

— Win Smart, CFA (@WinfieldSmart) June 15, 2020

pic.twitter.com/ndSignqEFm

— Alastair Williamson (@StockBoardAsset) June 13, 2020

pic.twitter.com/KKrZkLe3fY

— Alastair Williamson (@StockBoardAsset) June 12, 2020

Did recent bond issuance clean out the bulls? pic.twitter.com/FBDgKWr43i

— Win Smart, CFA (@WinfieldSmart) June 15, 2020