What could possibly go wrong? pic.twitter.com/L0TrlhvV3F
— Albert Edwards (@albertedwards99) August 20, 2020
Oops.
S&P 500 earnings real yield is at its lowest level in a decade!
Prior lows were also times that gold outperformed equities.
What’s different this time?
Stocks have never been at record highs with fundamentals severely depressed.
Never.
Time to buy gold & sell stocks. pic.twitter.com/Yiw4h4DS6Q
— Otavio (Tavi) Costa (@TaviCosta) August 19, 2020
Gamma Exposure is at its highest level ever!!!
The previous record was in January 2020, a month before stocks collapsed in the fastest bear market ever.
This market is all greed, no fear! pic.twitter.com/AjPF2ipTsC
— SentimenTrader (@sentimentrader) August 20, 2020
"Artificially low interest rates send false price signals to markets: debt goes up, savings go down, and resources are directed from productive uses to more interest rate-sensitive, debt-fueled sectors (including, of course, financial speculation)."t.co/DjaCa3JvLo pic.twitter.com/rcViRCWhGA
— M/I_Investments (@MI_Investments) August 20, 2020
"The BOJ became the first major central bank to adopt explicit yield curve targeting in early 2016. But as the following chart shows, they have suffered fresh woes in the five years of YCC"🤦♂️ – @johnauthers @ericrosengren @RobSKaplan @neelkashkari @marydalyecon @RaphaelBostic pic.twitter.com/FBwE7C1pgS
— M/I_Investments (@MI_Investments) August 20, 2020
TOTALLY CRAZY! #Tesla hits $2,000 a share after 378% rally this year ahead of the stock split and as shorts are running away. #TSLA is now up 40% since announcing the stock split without any other major catalyst happening in the meantime. pic.twitter.com/zi1RrMyWjF
— Holger Zschaepitz (@Schuldensuehner) August 20, 2020
"With each wave of artificially low interest rates, generating ever more distortive monetary effects, bond quality has fallen concomitantly. We are now at the stage where low-quality debt, rather than being the exception, (is the rule)." #FedPolicyFAILt.co/DjaCa3JvLo pic.twitter.com/w9wxO9vQTA
— M/I_Investments (@MI_Investments) August 20, 2020
Small business is dieing pic.twitter.com/2q9fQBjGq0
— Win Smart, CFA (@WinfieldSmart) August 20, 2020
Global #debt in one chart! pic.twitter.com/Q0m0PFqCFi
— jeroen blokland (@jsblokland) August 20, 2020
V-shaped recovery? Maybe not! Global trade is starting to crawl back after collapsing to record low in June, but outlook remains too murky to conclude whether sharp rebound will happen or not. WTO Trade Barometer fell to 84.5 in Jun, compared w/87.6 in May & 95.5 in Feb (via BBG) pic.twitter.com/dteaQ2mY6b
— Holger Zschaepitz (@Schuldensuehner) August 20, 2020