Why are equities booming? Maybe due to a shortage of unsafe assets?

🇺🇸🦠📈Why are equities booming?

Maybe due to a shortage of unsafe assets?

Buybacks and M&A activity have massively outpaced gross equity issuance since 2010 – underpinning equity valuations due to scarcity, esp. with ongoing money creation

And right now #moneyprintergoesbrrr! pic.twitter.com/4OwXOeIMVG

— Martin Enlund ⚡️🦆🚁 (@enlundm) April 17, 2020

Nasdaq 100 Green YTD, EPS expectations freefalling LOL… pic.twitter.com/cDoh6fpLlc

— Tim Backshall (@credittrader) April 16, 2020

This is very good information design + use of space @nytimes

Also this is widely known…BUT the market—a discounting machine––

is far more a ‘voting machine’ today (voting for what it WANTS and HOPES)

far less a weighing machine (factoring in extent of economic destruction) pic.twitter.com/XolH8ZIxoZ

— Josh Wolfe (@wolfejosh) April 16, 2020