There has been such a massive injection of stimulus from both the government and the central banks. Fiscal and monetary support at record levels. And we keep hearing about additional support on the way. The economy is largely supposed to be open at this point, with some restrictions in place. We were told everything would be fine by now. That isn’t the case. The data shows we are dealing with a crisis and the other media channels never get to the root. And that’s why…
Recession: Efforts to lift economy could tip off a financial crisis
The economy may be stabilizing faster than expected amid the COVID-19 pandemic, but efforts to preserve it could tip off a financial crisis, economists said in a new report. Deutsche Bank economists led by Peter Hooper, the bank’s global head of economic research, said the global economic recovery “has proceeded significantly faster than we envisioned in the gloomy days of early May.”
COVID-19: The Impact on Consumers’ Wallets | C+R Research
Consumer Costs of COVID-19 If you’ve noticed higher prices at the checkout aisle since COVID-19, you’re not alone. Americans across the country have been paying more for staples such as meat, eggs, and poultry as well as everyday household goods. Grocery prices skyrocketed beginning in March and still haven’t fallen to pre-pandemic levels.
Federal Payments to Farmers Have Tripled Since 2017, and Trump Just Promised Even More – Reason.com
Bailouts (David Rae Morris/Polaris/Newscom) It was March 2, 2018, when President Donald Trump’s top trade adviser appeared on Fox Business Network to reassure Americans that other countries wouldn’t retaliate against new tariffs proposed by the White House. Those tariffs on imported steel and aluminum were the first major battle in what’s become an expensive and largely unsuccessful 2 1/2 year-long trade war.
(24) Michael Burry, M.D. on Twitter:
“$TSLA: @FT #BigRead – sales of green regulatory credits necessary for “profitability.” Flat revs as tax credits wane/ deliveries stagnate. Inferior lithium iron phosphate tech behind #millionmilebattery means lower energy density/reduced range. #bubbles https://t.co/Z5XlzzEsJj https://t.co/8wH1o6PJrM” / Twitter
TSLA: @FT #BigRead – sales of green regulatory credits necessary for “profitability.” Flat revs as tax credits wane/ deliveries stagnate. Inferior lithium iron phosphate tech behind #millionmilebattery means lower energy density/reduced range. #bubbles https://t.co/Z5XlzzEsJj pic.twitter.com/8wH1o6PJrM
U.S. Junk Bonds Set $329.8 Billion Sales Record Amid Yield Hunt
(Bloomberg) — U.S. high-yield bond sales reached an annual record of $329.8 billion Wednesday as companies reap the benefits of the Federal Reserve’s liquidity-boosting policies and investors grasp for yield.The crush of debt offerings accelerated in April after the U.S. central bank began purchasing
Payments and the Pandemic
09.23.20 Loretta J. Mester Keynote Session, 20th Anniversary Chicago Payments Symposium – Federal Reserve Bank of Chicago (via videoconference) Read bio… ( PDF ) It is a great pleasure being with you today as part of the 20 th Anniversary Chicago Payments Symposium.
Fundamentals Do Matter | dlacalle.com
One of the most repeated sentences in the financial media is: “do not fight central banks”, making the argument that you have to be invested in equities and especially in the most cyclical part because central banks increase money supply and support risky assets. Reality shows us otherwise.
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UBS CEO Says It’s Difficult to Sustain Culture With Work-at-Home – BNN Bloomberg
(Bloomberg) — UBS Group AG Chief Executive Officer Sergio Ermotti added his voice to the chorus of finance executives questioning the impact of having much of the workforce working remotely. Ermotti, speaking at a Bank of America conference on Tuesday, said it’s especially difficult for banks to create and sustain cohesiveness and a culture when employees are working from home.
There’s a pandemic, but Southern California home prices are at record levels
In the middle of a global pandemic, Southern California home prices keep setting records. The six-county region’s median price reached $600,000 in August, up 12.1% from a year earlier, according to data released Wednesday by DQNews. That was the largest percentage increase since 2014 and the third consecutive month during which prices set a new all-time high.
Mall of America tests ‘livestream shopping’ | kare11.com
Since the coronavirus pandemic began, shoppers have been staying out of stores. So, the Mall of America is using a digital format to bring its stores to you. BLOOMINGTON, Minnesota – Welcome to the age of ‘livestream shopping,’ an innovative way to get you inside the Mall of America.
De Blasio to Furlough 9,000 NYC Employees Amid Lack of U.S. Aid – Bloomberg
CME, Nasdaq to Launch Water Futures Contract – WSJ
Farmers are known to pray for rain. Now they can hedge against unanswered invocations. CME Group and Nasdaq are planning to launch a futures contract later this year that will allow farmers, speculators and others to wager on the price of water.
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
The stock market keeps going higher thanks to the tech stocks which have benefitted from an economy which is quite different from 2017 for instance. Low interest rates have spurred more inflows of cash, debt into stocks, equities.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.