...due to “the interconnectedness of the financial system” fund gatings can trigger “contagion risk” with “the potential to become a systemic issue”...
In this episode of the Real Vision Daily Briefing, Managing Editor Ed Harrison hosts Roger Hirst for a discussion about how emerging markets (EM) currencies and bonds act as a bellweather for global macro. They establish a framework for trading different macro views, and discuss whether helicopter money can prevent the unwinding of the commodity daisy chain.
Some companies have confidence they can get to the other side because they are now issuing corporate bonds to pay down credit lines, with roughly $7 billion in IG bonds issued to repay revolvers.
Ash Bennington hosts Roger Hirst for a discussion about governments’ response to coronavirus and its implications for fiscal and monetary policy. The pair also cover the broader outlook for the global economy and the risk of structural changes caused by the pandemic.
"What the massive crisis does to productivity in the future is an open question as is whether we can ever see proper capitalism again with current levels of global debt/GDP."
The stock of L Brands tumbled 20% before being halted, and has continued to slide after the halt was lifted as investor realize that Victoria has now been dumped.
At some point we will all be celebrating in Times Square. It will happen. At some point afterwards the many will then be wanting to ensure that capital does not only flow to the too few – and the reckoning will be awesome for markets to behold.
"There’s no way you can predict earnings right now. It’s virtually impossible until we have more visibility with respect to how to world comes out of the coronavirus on the other side."
