New Retirement Account Rules – COVID-19
The Coronavirus is changing the landscape, as we know it, in almost every part of life. Unquestionably, it’s also shaking up the financial universe and changing rules that have been etched in stone for decades, [...]
A Marathon, Not A Sprint
Stocks rose last week, a breathtaking, nearly 20% run off the recent lows before a pullback Friday trimmed the gain for the week to about 11%. That was certainly helpful but investors would be well-advised [...]
Vital Lessons Still Not Learned: Be Careful About GFC2
It’s one of those crisis-level-of-illiquidity things that if you heard about it in normal times it would make you shake your head in disbelief. During a full-blown meltdown maybe it’s not standard stuff, but given [...]
No Further Comment Necessary At This Point
I would write something snarky about bank reserves, but why bother at this point? It's already been said. If Jay Powell doesn't mention collateral, no one else does even though it's the whole ballgame right [...]
It’s Not About Jobless Claims Today, It’s About What Will Hamper Job Growth In A Few Months
You’ve no doubt heard about the jobless claims number. At an incomprehensible 3.28 million Americans filing for unemployment for the first time, this level far exceeded the wildest expectations as the economic costs of the [...]
Collateral Shortage Goes Global, Hinting At The Way The (euro)Dollar Reaches Its Eventual End
Government securities have become so scarce that it is driving down repo rates. A collateral shortage that has become so acute, money dealers won’t part with their stock of government securities no matter what the [...]
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