"...because we have the same expansion of the balance sheet of the Fed then it would project, if cycles are exactly the same, gold could go to $4,000.”
"If fatalities don’t spike early in July, then people will conclude that it’s spreading amongst a part of the population that is not as sensitive, or that the virus has become less deadly as we move into the summer months."
Notably the biggest gainer here was 'hope' which is back at its Feb 2020 highs while current conditions and the headline confidence remain seriously low compared to February's "normal".
There was some sound and fury in a very illiquid overnight session, which ended up signifying nothing, and futures were little changed from their Monday closing ramp as markets puts a close to the best quarter for stocks since 1998.
Weakening the balance sheet of banks and hiding larger risk at lower rates in their balance sheets may be an extremely dangerous policy in the long run...
After July 31 the US economy is set to fly off a fiscal cliff that could be just as painful as what happened in late March/April unless there is a bipartisan agreement in Congress on trillions more in fiscal stimulus. The clock is now ticking.
Editor Max Wiethe joins managing editor Ed Harrison to discuss the latest developments in markets, macro, and coronavirus. Max and Ed examine how the US is…
