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Where Do Markets Stand?
March 10, 2020
Yesterday was an epic day in the financial markets by many measures. Does this mark a bottom?
Newsclips
Six Primaries Today
March 10, 2020
Six states hold primaries today, headlined by Michigan. Biden is now far ahead of Sanders for the overall nomination, after pulling a dramatic reversal on Super Tuesday. Can Sanders get back into the race?
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Quick Comments/What We’re Reading
March 10, 2020
Today's topics include Saudi Arabia to flood the crude oil market, shale's breakeven point, the fiscal response to coronavirus, bonds as a stock market hedge, rate cuts could be doing more harm than good, banks request record levels of overnight and term repo, comparing/contrasting current markets to 2008, and corporate leverage.
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Cartoons
March 10, 2020
Newsclips
Saudis Start an Oil War
March 9, 2020
The Saudis started a price war to punish Russia. Iran may also suffer as a consequence.
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Infections, Elections, and Fed Rate Cuts
March 9, 2020
The latest infection charts, Trump's re-election chances, and the Fed is poised to cut to zero next week.
Newsclips
Quick Comments/What We’re Reading
March 9, 2020
Today's topics include a review of circuit breaker levels, the Fed increases repo operations, the high yield fallout from oil's plunge, underestimating the global supply chain disruption, the call for fiscal stimulus, measuring market stress, the Fed's toolkit in a low rate world, banking in a low yield world, a metals glut, and investing in unprofitable companies.
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Cartoons
March 9, 2020
Newsclips
Infection Count Update
March 6, 2020
Right now daily updates to global infection counts are one of the most important statistics. The virus continues growing exponentially in much of the world.
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Employment in Pictures – Second Highest Addition of Jobs Since Financial Crisis
March 6, 2020
Including revisions to previous months, the February payroll report was the second best month for payroll growth since the financial crisis. Unfortunately, this largely measures a bygone era before coronavirus took hold of the market's attention.
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Quick Comments/What We’re Reading
March 6, 2020
Today's topics include your daily fed funds update, low/negative yields, equity fund outflows continue, stocks vs. bonds, convexity hedging, the regulatory issues with Wall Street working from home, the fiscal response to coronavirus, and crude oil supply.