In March 2020 America’s trillion dollar mutual funds suffered an unprecedented run. This sent shockwaves through the US Treasury market, the foundation of the global financial system. To read more check out latest Chartbook newsletter and sign up! adamtooze.substack.com/p/chartbook-ne… https://t.co/LKwXWgFysU
NL and Lux btw them account for loss of 15 % of German corporate tax revenue. 21% to EU havens in total. What kind of vision of Europe is this? @OlafScholz twitter.com/VMRConstancio/…
UK mobility numbers are back down to mid June levels. @PantheonMacro via @SoberLook thedailyshot.com/2020/11/24/ret… https://t.co/Ho69CW0wuu
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. But how deep will the double-dip be? thedailyshot.com/2020/11/24/ret… https://t.co/4TfZeaDCa4
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 up to the Chartbook Newsletter to get a new 4 part series on the crisis in the US Treasuries market. adamtooze.substack.com https://t.co/0ODnoyC4Z9
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. Chartbook Newsletter 5 is 1st in a series on the dramas of March 2020. Sign up here: adamtooze.substack.com/p/chartbook-ne… https://t.co/F1h66QMA2Y
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 way its the biggest financial story of 2020. Chartbook newsletter #5 out now. Sign up here. adamtooze.substack.com/p/chartbook-ne… https://t.co/HxEfHipXEY
March 2020 saw the most dangerous disruption to the biggest financial market in the world – the US Treasury market – we have witnessed in living memory. Chartbook newsletter #5 begins a multi part exploration. Sign up here: https://t.co/vNaRqV32nn
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 to get the newsletter regularly to your email. https://t.co/MlDPNm3soK
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. Chartbook Newsletter 5 is 1st in a series on the dramas of March 2020. Sign up here: adamtooze.substack.com/p/chartbook-ne… https://t.co/tCDtHhYmwB
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 way its the biggest financial story of 2020. Chartbook newsletter #5 out now. Sign up here. adamtooze.substack.com/p/chartbook-ne… https://t.co/KylkS7HJxZ
March 2020 saw the most dangerous disruption to the biggest financial market in the world – the US Treasury market – we have witnessed in living memory. Chartbook newsletter #5 begins a multi part exploration. Sign up here: adamtooze.substack.com/p/chartbook-ne… https://t.co/1HQXa724sM
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 to get the newsletter regularly to your email. https://t.co/f5x9KNfFnA
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 the Fed, Bank of England and ECB. To receive Chartbook Newsletter #5 direct to your email inbox, sign up here: adamtooze.substack.com https://t.co/LDxj0GIDIn
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 so far is over 3,800. Thats well over 10 per day! economist.com/asia/2020/11/2… https://t.co/W7T5RfGTXZ
"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 435 under Bush. > 20% of 8,600 sanctioned entities are linked to Iran & 4 proxies Iraq, Lebanon, Syria and Yemen.” economist.com/middle-east-an… https://t.co/8zZgnwieTr
“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 than that across Med. W African fisheries overexploited by foreign boats are key drivers. economist.com/middle-east-an… https://t.co/d7aYbs9ujd
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 to liberalize outflows too? Big read by @AnsteyAsia @endacurran bloomberg.com/news/features/… https://t.co/gPvoQ5CMXw
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 a >35% disparity to AE! bloomberg.com/news/articles/… https://t.co/4XDBk67Rc8
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 insurance project, & get certification that t work being done complies with EU standards -> looking for work arounds. bloomberg.com/news/articles/… https://t.co/Lpx1tK299e
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 before GFC. Outstanding balance of delinquent consumer receivables could reach nearly $500bn in 2021 up *3 since 2015 economist.com/finance-and-ec… https://t.co/vaikFKe1x2
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 beautiful antique books. I recommend it! abebooks.com/servlet/BookDe… https://t.co/7119FSNHyl
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