I believe March’s jobless data was the tip of the proverbial iceberg.  Non-farm payrolls fell by 701k.   The reference period was based on the week ending March 12 thus suggesting companies were firing workers considerably earlier than thought.  Losses were

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Jobless claims surged by 6.64 million, vastly exceeding the 3.6 million estimate.  In two weeks, the economy has lost over 10 million jobs, eclipsing the approximate 8.6 million jobs lost in the first seven months of the Great Recession.  More are

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The headlines are absolutely apocalyptic, drowning out the more rational comments. NJ announced yesterday the rate of virus increases is diminishing. NY commented the percentage rise in infections is slowing. Italy, the world’s

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How long will it take before most begin questioning the government’s draconian action of shutting down the economy and society?  Is the economic/societal nuclear carpet bombing worth it?   The headlines

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Is the tide turning? In my view, yesterday was the first day the headlines were not entirely apocalyptic. There was an element of rationality, something that has been missing for at least three weeks.

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All markets surged yesterday on the tentative passage of the stimulus.  As I have stated, I am wondering whether the cost is worse than the disease.  As noted yesterday, the global economic cost is around $120 trillion.

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Today there is a mass government imposed shut down of business activity and of society.  This shutdown if it lasts too long will erode future living standards and may end up

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What makes today different is the speed of the unrelenting decline where a liquidity issue is perhaps morphing into a solvency issue.  The Federal Reserve threw everything in including the kitchen sink to perhaps to no avail.

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According to Bloomberg last week was the most volatile week in history.  In my view the greatest risk at hand is the liquidity issue morphing into a solvency issue.  I would like to use the $3.9 trillion municipal bond market as example of how trading...

Words cannot express the carnage, the volatility, the fear of today’s market implosion.  All markets have been decimated anywhere between 25% and 75% in 30 days.  Many times, I have commented about the velocity of change but never had I envisioned

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