“Suppressing” bank balance-sheet data in a banking crisis to prevent the biggies from yanking their billions out of a weakened bank.
“Only good news is that the number was still positive despite the high number of cancellations.”
“The ultimate economic cost of the COVID-19 outbreak cannot be accurately estimated until we get more clarity on the duration and scale of the pandemic.”
Loading up on Treasury securities, mortgage-backed securities, repos, “central bank liquidity swaps,” and “loans” to keep the Everything Bubble from imploding further.
This type of sudden, previously unimaginable fall-off-the-cliff data about the lockdown-economy is gut-wrenching.
“Nobody has any taste for risk anymore. All of those exotic loan programs have ceased. All investors buying that paper are gone”: mortgage broker.
Services account for 70% of the US economy. Here’s what’s happening to services and retail in economic powerhouse Texas.
“The leveraged share buyback game has ended, which also means an end to the phony earnings growth.”
Neither the Fed nor the Treasury can bail out brick-and-mortar retailers.
Economic powerhouse Texas first got hit by the Oil Bust then by the Coronavirus. Expect similar confluence of unrelated factors in other regions.