🇺🇸🦠📈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
— 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