The “double-dip” is now baked in to Euro Area forecasts. And GDP does not recover to 2019 levels (let alone trend) until end of 2022.
RT @MikePMoffatt: Fascinating stuff – must read monetary policy piece. twitter.com/adam_tooze/sta…
Fed’s GIGANTIC asset purchases in March 2020 were not generic QE. They were to sustain “market functioning” in most important financial market of all. Sign
March 2020 was a dollar crisis like no other! Foreign reserve managers were selling US Treasuries but NOT to dump dollars as we once imagined.
March 2020 shook the US Treasury market, the bedrock of global financial system. Who did the damage? Hedge funds? Mutual funds? Foreign reserve managers? Either
March 2020 saw the most dangerous disruption to the biggest financial market in the world – the US Treasury market – we have witnessed in
OUT NOW: Chartbook Newsletter # 5 What Happened in the US Treasury Market in March 2020? Take 1 of 4. adamtooze.substack.com/p/chartbook-ne… Sign up at adamtooze.substack.com
March 2020 was a dollar crisis like no other! Foreign reserve managers were selling US Treasuries but NOT to dump dollars as we once imagined.
March 2020 shook the US Treasury market, the bedrock of global financial system. Who did the damage? Hedge funds? Mutual funds? Foreign reserve managers? Either
RT @ProfPaulWelfens: .@Adam_Tooze crucial
March 2020 saw the most dangerous disruption to the biggest financial market in the world – the US Treasury market – we have witnessed in
OUT NOW: Chartbook Newsletter # 5 What Happened in the US Treasury Market in March 2020? Take 1 of 4. adamtooze.substack.com/p/chartbook-ne… Sign up at adamtooze.substack.com
RT @TomSugrue: A critical diagnosis of the global economy in the pandemic era. Read @adam_tooze in #CrisisCities publicbooks.org/global-inequal…
March 2020 saw one of the most dangerous shocks to the foundations of the global financial system we have ever seen -> dramatic action from
March 2020 will forever be remembered as the month of the global lockdown. By April 2020 80 percent of the global workforce would be under one or other type of restriction. It was like nothing else in economic history.
In anticipation of that shock the financial markets began to quake already in February.
The immediate reaction, unsurprisingly was a flight to safety that put pressure on equities and corporate debt. That began in earnest in the last week of February. The effect of the flight to safety was to increase demand for safe assets like Treasuries. So far so good.
In 2019 the Indian army recorded 3,479 violations of ceasefire along the “line of control” btw India and Pakistan in Kashmir. The figure for 2020
"In Trump’s first 3 years US Treasury added an average of 1,070 names a year to its main sanctions list v. 533 under Obama and
“Barca or death”: 18k migrants have arrived in Canary Islands from W Africa this year, 10*more than last year. Route is six times more dangerous
Bertelsmann’s proposed takeover of Simon & Schuster by way of Penguin Random House will create a publishing giant! economist.com/business/2020/… https://t.co/NMbMRz2QjO
2021 is a huge year for EM debt redemption. $5.7trn comes due in fx and local-currency debt. @IIF via @SoberLook https://t.co/tXK9M7M9fZ
Driven by blows to oil, Nigeria, Africa’s largest economy, has slumped into recession, though slightly less bad than feared. bloomberg.com/news/articles/… https://t.co/qIvUPFDzwy
As China opens its bond markets, its bonds offer a liquid alternative, offering EM returns but with low risk. Will opening of inflows force Beijing
The appreciation over last twenty years of the dollar v. EM ex China is dramatic. @IIF via @SoberLook https://t.co/jog6OcIIL4
China’s growth machine rumbles on: Btw 2018 and 2024 Bloomberg is predicting a >25 % disparity btw China and other EM in GDP growth and
Who’s Dependent on Russia’s Gas? Fourteen European countries get more than 50% of their gas from Russia bloomberg.com/news/articles/… https://t.co/BaNtRBynAr
RT @RobertTalisse: PSA from Utah officials: "It is illegal to install structures or art without authorization on federally managed public…
$ 32trn in stock, 74% of the US stock market is owned by people over the age of 55. @Quillintel via @SoberLook thedailyshot.com/2020/11/24/ret… https://t.co/KUlcS48MKQ
160 km to go: To finish Nordstream 2 in face of US sanctions, Gazprom needs to find a pipe-laying ship to do the work, obtain
Inflows to tech funds this year have been unprecedented. thedailyshot.com/2020/11/24/ret… https://t.co/sS4F63xVnD
American incomes shrank month on month in October and personal spending slowed to a crawl. bloomberg.com/news/articles/… https://t.co/UdfHtSeIif
Btw 2015 & 2019 stock of household debt in China rose by about $4.6trn, close to the $5.1trn accrued by Americans over a similar period
I used Abebooks to source a rareish German paperback from the 1980s this morning and now all my pop up ads are for fascinating and
In November 2020 5 spacecraft – 2 American, 3 Russian – docked at the International Space Station! H/t @SoberLook nasa.gov/feature/visiti… https://t.co/p7JAGjCpH6
"Why it is misleading to blame financial imbalances on a saving glut. New research calls for a careful distinction to be made between saving and
1981: UCSF's Marcus Conant, MD, and Paul Volberding, among the first physicians to diagnose and treat patients with AIDS, discuss Kaposi's Sarcoma within first months
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