Once freed from conservatorship, Fannie Mae and Freddie Mac will be required to hold a combined $280 billions to protect against losses as independent companies.
"A greater portion of the liquidity that has been injected so far as a function of QE and credit creation, would be deployed into higher yielding non-cash assets such as equities into next year."
there is now $1.4 trillion in zombie debt, an increase almost $1 trillion of debt since the pandemic struck, bringing total obligations to $1.36 trillion, a flood of new debt made possible by the Fed's backstopping of the corporate bond market
"This is the fourth largest sell estimate on record going back to 2000, and ranks in the 96th percentile among all buy and sell estimates in absolute dollar-value."
Any incremental move higher in stocks will now be contingent on a credible plan of just how these multiple vaccines are actually administered to a skeptical population.
This is the biggest change to Apple store's revenue structure since the iPhone maker launched the service in 2008, one which could have an adverse impact on its Services revenue over the short-term.
"People can see light at the end of the tunnel now and the markets clearly responded to that, but it’s not going to go up in a straight line because we’ve still got to get through the winter."