Cryptocurrencies
Erosion of the Fed’s Cred
In recent weeks, a piece of news and a piece of commentary, which we show you below, crossed our desk — items which were interesting enough taken in isolation, but which became even more interesting when taken together. Source: Wall Street Journal, Barrons The first was a report about the Read more…
Inflation
Peak Liquidity and a Strong Economy Augur Volatility, Not Disaster
Since the initial supernova of Federal Reserve and Treasury pandemic support for financial markets occurred last April, we have argued that this description-beggaring liquidity explosion was the single most important phenomenon for market participants to see and understand. Correct views and analysis of economic recovery trends and market theme and Read more…
Automation
Governments Aren’t the Only Ones With Money To Spend
The remarkable market rally since last year’s pandemic lows can be attributed in large part to the very large and rapid increase in real liquidity in the financial system — that is, “readily available money above and beyond what is needed for economic growth,” as Canaccord Genuity strategist Tony Dwyer Read more…
China
Market Summary — 15 October
Many forces are at work that could result in a correction for U.S. markets: uncertainty around the trajectory of the pandemic; the worrisome prospect of a contested presidential election; and typical seasonal weakness. And yet, as we write, the S&P 500 remains near an all-time high. Why? The investment backdrop Read more…
