March 23, 2020 | Daily JAM, DHR, Stock Alerts |
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
March 23, 2020 | Daily JAM |
Today, March 23, the Federal Reserve announced that it would backstop all credit markets in the United States without limits. The Fed said it would purchase Treasuries and mortgage-backed securities “in the amounts needed to support smooth market functioning.” In...
March 23, 2020 | Daily JAM, Morning Briefing, Short Term |
I've been operating on the assumption for the last week of so that the Senate in particular and Congress in general would, of course, pass a coronavirus rescue bill. (I have been calling it a "stimulus: bill but given how quickly the economy, unemployment, and small...
March 22, 2020 | Daily JAM |
... the $1.3 trillion (or so) coronavirus stimulus/cash for everybody/corporate bailout bill to be the big make or break issue for the week. I have three questions: Will the bill be passed by the Senate on something like Major Leader Mitch McConnell's self-imposed...
March 21, 2020 | Daily JAM, Friday Trick or Trend |
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. The ink...
March 20, 2020 | Daily JAM, Short Term |
Let me emphasize that "for the week." The storm of bad news continued today with the European Union saying that the 2020 recession in that bloc may be as bad as 2009. Goldman Sachs warned that the U.S. economy may shrink 24% year over year in the second quarter. Oil...
March 20, 2020 | Daily JAM, Morning Briefing, Short Term |
In the credit markets investors and traders are selling everything. Safe. Risky. Doesn't make any difference. And that's creating a potential shortage of dollars. When you sell corporate bonds, you take dollars out of the credit market. When companies draw down credit...
March 19, 2020 | Daily JAM, Short Term |
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
March 19, 2020 | Daily JAM |
The number of confirmed coronavirus cases in the United States doubled Thursday compared with two days before. On Tuesday there were 5,700 confirmed coronavirus cases in the United States. Today, March 19, that number rose to 11,500. Some of that is undoubtedly...
March 19, 2020 | Daily JAM |
This morning the Department of Labor announced that new claims for unemployment for the week ending March 14 climbed to 281,000. That was up from 211,000 in the prior week. And much worse than the 220,000 projected by economists. The worst news is that this spike in...
March 19, 2020 | Daily JAM, Morning Briefing, Short Term |
A casual walk to the grocery store this morning revealed a number of small coffee vendors and noodle shops in my neighborhood had gone a step beyond New York City's order to close restaurants and bars and coffee shops except for take out and delivery orders. These...
March 19, 2020 | Daily JAM |
Bear markets typically require multiple bottoms--with rallies often of considerable dimension in between--before they set a final bottom. It wouldn't be surprising, for example, to see a 30% drop with signs of a bottom followed by even a 10% to 20% rally. Which would...