"Bond yields have begun rising, suggesting the bond market is beginning to discount inflation hitting the financial system."
"You can’t “buy low,” if you don’t have anything to “buy with.”"
"Bottom line, the Fed has started up the “money printing press” again, and in an attempt to curb market panic, has essentially cut rates to zero. But that hasn’t worked out well so far, because the market is still in panic mode."
"Germany is the ultimate backstop for the EU. ... German sovereign bonds are beginning to break down."
"Given the potential harm caused by the divergence between stimulus and economic fundamentals, it would be short-sighted and irresponsibly pragmatic to count out the prospect of inflation."
Wall Street estimates are still in fantasyland.
On 9 March 2020, the Dow set a record by falling 2013 points. On 12 March, it beat this record with a 2352-point fall. Then, on Monday, it went into freefall, plummeting by 2997 points, or 12.93% on the day.
"Europe is shutting down"
"Are we at the bottom yet? Probably not, if history is any guide."
"We are in a bear market and a recession. It just hasn’t been announced ... yet."
"The markets have just suffered their worst one-day collapse since the 1987 Crash."
"At some point in the future, someone is going to pull all the data together. They will closely examine the hospital logs, analyse the transmission number and the infection rate, and do a cost-benefit analysis of the efforts to contain the virus. They may well conclude governments overreacted..."
“Tops are a process, and bottoms are an event”
"All major U.S. banking stocks fell by double-digit percentages during Monday’s session."
"The 10 year UST yield has dropped from ~1.6% to ~0.8% in just 12 trading sessions."