Question.
What’s left to justify stocks at these absurd valuations?
We just had the largest liquidity withdrawal ever!
Government borrowed $716B in June alone.
That’s $2.8T of net Treasury issuance in 3 months.Then:
Add the fact that monetary stimulus was recently reversed. pic.twitter.com/mRAnZxW39z
— Otavio (Tavi) Costa (@TaviCosta) July 16, 2020
#recession … US #Corporate #Debt #Bubble edition$LQD $HYG $JNK t.co/uWAnPUaXbA
— Invariant Perspective (@InvariantPersp1) July 17, 2020
Corporate America has been piling on debt at a record speed. The size of the US investment-grade bond market has ballooned by $1.5 trillion in the past 4 months, to $6.7 trillion, while the US junk-bond market has expanded by about $400 billion, to $1.4 trillion pic.twitter.com/c2IRiOp0Df
— Lisa Abramowicz (@lisaabramowicz1) July 17, 2020
Umich sentiment vs. $SPX YoY pic.twitter.com/AOKDUFZscT
— Teddy Vallee (@TeddyVallee) July 17, 2020
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