...fear of the virus is not really the problem. Its fear of the future... This is hitting everyone, every individual on the planet at the most basic level.
Ash Bennington hosts Ed Harrison, Real Vision’s managing editor, to break down the day’s events. In today’s episode, Bennington and Harrison continue their discussion on oil markets — and tie the broader macroeconomic fundamentals into technical market dynamics. The pair also discuss MMT, the structure of the USO ETF, and emerging market debt forbearance.
Today negative prices are the reflection of dire market conditions for producers, with the hope that demand restart before the middle of May and that the June contract does not face the same fate.
The pendulum has swung so far in the direction of centralization, oligarchy and authoritarianism that the whole thing is breaking down down under its own weight...
Ash Bennington hosts Ed Harrison, Real Vision’s Managing Editor, to break down the day’s events. Today, the pair take a deep dive into the chaos of the profoundly fractured oil markets. Bennington and Harrison also discuss the long-term prognosis for the eurozone in a post-coronavirus world. In the intro, Jack Farley discusses the teetering CLO market and analyzes a short play that has paid off big time.
The tide of negativity seems to have gone out to sea and the financial wizards of debt are probably smoking cigars and drinking brandy in their penthouse enclaves, but the tsunami of consequences is just growing ever larger...
If we really are seeing 'game over' for US-China relations post-COVID then at some point markets are going to go into fast-forward again….and this time they can’t bully the Fed into cutting rates to zero because we are already there.
