If one Wall Street titan is right, the U.S. economy return to normal and the stock market could be back to where it was before the crash occurred. According to JPMorgan Chase, the national economy could restart by mid-spring and the S&P 500 could soar to record levels by early next year. JPMorgan’s Marko Kolanovic […]
Archives for March 2020
U.S. sees negative interest rates in one- and three-month Treasurys
Here is another interesting development the coronacrisis: subzero yields on government debt. On Wednesday morning, the yields on the one-month and three-month Treasury bills fell below zero. The last time this happened was more than four years ago when both bonds briefly slipped to -0.002 percent. The U.S. now joins Europe, Japan, and Sweden with […]
Out of bullets? Federal Reserve, central banks running out of options to contain economic collapse
By: Joakim Book Corona fears have shifted the world’s central banks into hyperdrive. Talk more, do more, lend more—and buy everything that moves. One after the other, the major central banks took to the barricades, manned the canons, fired their bazookas, and every other military metaphor you can think of. Nobody stopped to think whether the policies […]
U.S. stock market rallies on QE infinity, pending $2 trillion stimulus
A dead cat bounce or an official bottom? One day after the Federal Reserve announcing unlimited quantitative easing, global financial markets are skyrocketing. Stocks might get another boost if Washington can pass the $2 trillion stimulus bill that has a treasure trove of goodies for both the left and the right. Here is where the […]
DOJ, HHS to crack down on hoarding, price gouging as part of executive order
Federal equity stakes, massive public spending, and anti-price gouging laws? So much for being a capitalist… On Monday, President Donald Trump signed an executive order to prevent price gouging and hoard supplies. As part of the E.O., it is a crime to stockpile personal protective equipment at an industrial scale. Attorney General Bill Barr confirmed […]