Newsclips
Monthly Fund Flows – Bond Funds Post Largest Monthly Inflow on Record
March 3, 2020
Bond funds posted their third largest monthly inflow since at least 2002.
Bond funds posted their third largest monthly inflow since at least 2002.
Today's topics include the G7's statement followed by the Fed's 50 basis point cut, tracking coronavirus, more alternative data on coronavirus, a look at big stock market bounces, markets can be unpredictable, Wall Street working from home, and crude oil production.
As we highlighted last night, the market has priced in a Fed move. How long will the market remain patient in waiting for a cut?
An update of alternative data sources shows China is still far from resuming normal economic activity.
Today's topics include tracking COVID-19, central banks' response, a note on this month's PMI release, updating low/negative yields around the world, profit margins and deglobalization, banks' short Treasury position, tracking the economic effects of coronavirus, and COVID contingency planning.
S&P futures opened 60 points lower (1.9%), but have reversed to positive on the day. The market has priced in a 50 bps cut for tomorrow morning.
Some historical perspective on stocks' decline this past week
How accurately do the FOMC minutes, which are released only a few weeks after a meeting, reflect the full transcripts, which are released on a five year lag?
The Fed has slowly been reducing its involvement in the overnight and term repo markets, as planned.
Asset managers hold their largest net position in 30-year bonds in over five years.