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"a full recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities."

The list continues to grow. 

The question for enterprising CFOs now is how companies game the system so they can directly sell bonds to the Fed then use the proceeds to fund stock buybacks.

For everyone who went to Vegas year after year and instead of going to one of the remarkable Cirque du Soleil performances would visit... less reputable "shows", we have some bad news: you are now out of luck.

From border clash to swelling economic backlash...

"The TMC issued a serious statement about ICU capacity that unnecessarily alarmed our community..."

...make up your own reason why...

...but pending home sales remain down 10.4% YoY...

...sheesh, that escalated quickly (again)...

Key events this week are the ISM manufacturing index on Wednesday and the employment report on Thursday. The minutes of the June FOMC meeting will be released on Wednesday.

That’s the key dynamic.

"...while Central Banks have calmed markets with the opium of QE Infinity, I can’t help wonder if the real earthquake is yet to come..."

"The recovery is going to be much slower and much more uneven than most people believe. Markets are priced for a much sharper V-shaped recovery, which we don’t think is likely."

Gilead's CEO says it's a great value despite the fact that the cheap steroid dexomethasone has proven more effective at lowering COVID-19 mortality...

... as if 216,915 Robinhood traders suddenly cried out in terror and were suddenly silenced.

In the short term, it seems that risks look skewed toward a slower global trade recovery than expected.

“We have to think about how the regulatory regime should be changed"...oh really?

Cocaine from Colombia supplies most of the U.S. market, and most of that supply now passes through Mexico, with Mexican drug traffickers the primary wholesalers of cocaine to the United States.

"So about that V-recovery?"