🇫🇷 French Lockdown to Push Economy Back Into a Contraction – Bloomberg
*If activity remains at November’s levels through December, the contraction could be as deep as 6%.
French government cuts 2021 growth forecast to 6% from 8%
*Link: https://t.co/UsUjh23P6p pic.twitter.com/vSYfIAjU2A— Christophe Barraud🛢 (@C_Barraud) November 18, 2020
🇺🇸 #Coronavirus hospitalizations in #NewYork have topped 2,000, the highest since early June, Governor Andrew Cuomo announced Tuesday.
*The trend will keep deteriorating at the national level ⬇ pic.twitter.com/Oal6C7HFvZ
— Christophe Barraud🛢 (@C_Barraud) November 18, 2020
Another major spike.
Treasury holdings by banks relative C&I loans just hit a fresh record.
Again:
Banks are now lending more to the government than to businesses/households.
There is only one solution to this wall of debt…
That‘s monetary debasement. pic.twitter.com/dETM6Vy1UX
— Otavio (Tavi) Costa (@TaviCosta) November 18, 2020
US equities on a P/S basis just hit its highest level on record at 2.7X.
Trading in the 100th percentile of its historical distribution over 40 years.
US stocks are record overvalued. pic.twitter.com/Ze601mFLRe
— Julien Bittel, CFA (@BittelJulien) November 18, 2020
As usual, there is no liquidity pic.twitter.com/HATszMu5q6
— zerohedge (@zerohedge) November 16, 2020
