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"It puts the administration in a different position than what they’ve been used to. It’s smart politics.

Diamonds may be forever, though demand for the diamonds is not.

"We now expect that at least one vaccine will be approved by the end of 2020 and will be widely distributed by the end of 2021Q2. We have incorporated this timeline as our baseline forecast." - Goldman

With duration exposure surfacing across portfolios, we like owning interest rate volatility.

To promote lending and combat the worst recession since the Great Depression, the Fed had to aggressively increase money base whereas the PBOC could resort to more direct tools,

"Are you, like us, sensing that things are poised to fall apart?"

Just in case you think that can’t happen, just remember no one was expecting a 35% decline in March either... As we said last week, “risk happens fast.”

One outlier in Wall Street's monster rally since mid-March is... 

... the “cure” that is forced upon all Europeans now is not just worse than the disease; it is the disease.

1,058,547,236...

Twitter joins the battle for what could be the last major tech M&A deal for a while, as anti-trust fervor in Congress and the White House accrues genuine bipartisan support.

The FTC also reminded people (in all capital letters): "DON'T PLANT THE MYSTERY SEEDS".

If you want to understand America’s dangerously deepening travails, you have to start at the Federal Reserve’s Eccles Building...

"On July 28, we signed a Letter of Interest with Eastman Kodak. Recent allegations of wrongdoing raise serious concerns. We will not proceed any further unless these allegations are cleared."

From a longer-term secular standpoint, economic growth will fall into a new regime, sub 2% which will weigh on bond yields...

"... normalization is a Fed lie...The dollar is being destroyed before us. "

The problem is the debt, and you can’t solve a debt problem with more debt... At some point, you have to stop digging.

A world reserve currency is supposed to be superior in storing value, but through boundless money-printing the U.S. dollar hasn’t been able to compete with gold by a long shot...

But we thought this wasn't a particularly good time, Warren? What changed?

The ECB’s substantial balance sheet expansion and commitment to keep rates low as long as necessary, together with European policy response, effectively compressed volatility and prevented market fragmentation.