Retail is plowing into USO, tech, and US stocks.
Even with the "Fed Liquidity", the 1st quarter of 2020 was the largest QoQ contraction in credit conditions EVER.
The fundamental economic data is putrid. The worst ever.
and REMEMBER, corporate profits peaked in late 2018, which is also when the Russell 2000 entered a bear market.
The SPX was saved from crashing by a Fed that slashed interest rates in 2019, but with this biggest global shock we have ever seen and with money supply velocity at ZERO, there's nothing that traditional monetary policy can do for the markets.
Markets bounced off of hope and optimism given to them by Mnuchin. Don't trust the administration. Things are about to get UGLY UGLY
Even with the "Fed Liquidity", the 1st quarter of 2020 was the largest QoQ contraction in credit conditions EVER.
The fundamental economic data is putrid. The worst ever.
and REMEMBER, corporate profits peaked in late 2018, which is also when the Russell 2000 entered a bear market.
The SPX was saved from crashing by a Fed that slashed interest rates in 2019, but with this biggest global shock we have ever seen and with money supply velocity at ZERO, there's nothing that traditional monetary policy can do for the markets.
Markets bounced off of hope and optimism given to them by Mnuchin. Don't trust the administration. Things are about to get UGLY UGLY
