The fact that bonds did not even budge today confirms that HTZ stock remains a total loss, no matter what some used car salesman on Wall Street thinks.
Despite Jay Powell’s (limited) success at the NYSE and (unqualified success) in the financial media, those seemingly little two words keep coming up in way too many places: cut costs.
Following yesterday's strong 2Y auction, the wave of stellar demand for US paper continued when the Treasury sold a record amount of 5Y paper at the lowest yield on record.
"They don’t really have the money, though, do they? And so they are just going to print it, aren’t they? Out of nothing? Is there any real backing, like Gold in earlier days?”
"Financial market sentiment appears disconnected from shifts in underlying economic prospects raising the possibility that financial conditions may tighten more than assumed in the baseline."
"The outbreaks have given markets the unpleasant reminder that the pandemic is far from over and that the economic recovery may be slower than expected."
