Sudden Stop in Labor Market, Mild Damage in Manufacturing: Worse Ahead
The truly horrific NFP prints are likely a month and two hence, with unemployment topping 10%. State and local governments (required by law to...
398 Views
Massive Fiscal Stimulus A Near-Term Game Changer but Long Term Trouble
The extraordinary size of the US fiscal stimulus (US$2 trillion, or a bit over 10% of GDP) is eye-popping. It shovels money to families earning...
500 Views
FOMC Fires All Its Bazookas: 100bp Rate Cut, Resumption of QE, More
Given that we now have a global pandemic (by the WHO's reckoning), the FOMC decided to make its second inter-meeting rate cut of the month, cutting...
406 Views
Biden as Presumptive Democratic Nominee a Force for Stability & Helpful for Markets
After winning 11 of the 15 primary contests from 29th February to 3rd March (Super Tuesday), former Vice President Joe Biden cemented his position...
431 Views
Sanders-Buttigieg Are Co-Front-Runners, but Bloomberg Is Racing to the Nomination
Mike Bloomberg, a self-made billionaire in the technology & financial sector and 3-term mayor of New York, is quietly surging in the polls,...
380 Views