"While the macro-economic environment remains uncertain, Intel shares are currently trading well below our intrinsic valuation, and we believe these repurchases are prudent at this time."
The medicine the current administration is prescribing is a treatment for the common cold; in this case, a normal business cycle recession. The problem is the economy is suffering from a "debt cancer"...
"Boeing and Enter Air today announced the Polish airline is expanding its commitment to the 737 family with a new order for two 737-8 airplanes plus options for two more jets."
Notable that the minutes had no discussion of extending the duration of asset purchases, ie “twist”. This narrative had built considerably via media & Dudley speech leading into the meeting."
“The Fed is distorting risk markets on a scale never before seen. They are making a mockery of capitalism and bailing out bad actors. The system is broken..."
With the explosion in debt issuance in the past quarter, many large companies now have cash buffers to survive through several quarters (if not years) of impairments. Their smaller counterparts have not been afforded the same luxury
The minutes will be parsed to see if there is any emerging consensus on a number of themes, like enhanced forward guidance, inflation targeting, the Fed's mandate.
It took Apple 38 years to hit its first $1 trillion in market cap since its December 1980 IPO; it took less than two years to go from $1 trillion to $2 trillion.
A long-running saga of ever-more expensive episodes of a drama with an ageing cast of opposing sides who endlessly clash is actually a good theme to hang today’s Daily on (cue the ‘Star Wars’ theme music, please).
