We see realpolitik trump the ‘liberal world order’, huge explosions, warnings of war, political polarization, dubious constitutionality, warnings of election fraud, sanctions, tariffs, and now the arrest of press barons.
The only notable data releases this week in the US are July CPI on Wednesday and July retail sales on Friday. The latest weekly jobless claims print on Thursday is also worth keeping an eye on.
"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."
"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
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,
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.”
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.
