We have all become “fully invested bears” as we are all quite aware that this will end badly, but no one is willing to take the risk of being grossly underexposed to Central Bank interventions...
"The saving grace for markets is liquidity, which is in abundance and will offer a backstop as the bulls and bears stage a tussle and cause market volatility."
The economic recovery narrative got a solid boost this morning following the latest Eurozone flash PMIs which surged for a second month, in most cases beating expectations.
"Such things have already happened to many Russian businesses and financial institutions. We have to make preparations early – real preparations, not just psychological preparations..."
Senior editor Ash Bennington and managing editor Ed Harrison explore the perilous state of the global markets amid the unrelenting spread of coronavirus. They…
People had prepared for the worst, but so far, they haven’t gotten the worst... But people forget that before the pandemic, the stock market was already priced for perfection. It was extremely overvalued...