Managing editor, Ed Harrison, joins Dave Floyd, founder of Aspen Trading, to review and analyze today’s price action. Ed and Dave first discuss the continuing…
The closing of the junk bond issuance window takes place just as HY gross issuance was $321 billion and about to break its all-time full-year issuance record of $322 billion set in 2012.
"There’re taxes which will slow down growth, like taxes on capital formation, or labor; and there’re taxes which will not affect growth like taxes on, you know, well-to-do people like me..."
"...the imminent wealth destruction will soon reveal to investors that their assets are only worth a fraction of the imaginary value they have today..."
"We not only expect a large move in the week following the results, but also some follow-through as well, with a cumulative 30-40bp increase 10y yields over the subsequent month." - Goldman
"I don’t fear stronger accommodation to support inflation... the setting of monetary policy I think is quite adequate." - Chicago Fed president Charles Evans.
...potential to see monster returns if the event were to pass and all that crash is puked back into the ether... or conversely be turned to dust into a God-forbidden realization of chaos...
Today’s economy is not backed by organic growth and strong productivity, but rather debt and fiscal and monetary schemes. Given the environment, the argument for speculation over reliable earnings growth is befuddling...
As a co-worker in New York put it yesterday, one would think perhaps the UK is one giant pub. Indeed, perhaps it always was. This isn’t the first time UK politicians have put the ideal ahead of the real and the drinking culture at the heart of UK identity...
