Barclays expects #ECB excess reserves to jump to €3.5tn as ECB likely to tweak its tiering system, which was first introduced in Sep to help lenders cope w/negative rates. ECB could increase the excess reserves multiplier for banks from 6x to 10x. pic.twitter.com/nnZsfuUItM
— Holger Zschaepitz (@Schuldensuehner) June 1, 2020
Chart of the day! The G4 Central Bank (#Fed, #ECB, #BoJ #BoE) Balance Sheet as a % of #GDP rose to 46.7% in May. pic.twitter.com/Ho1LsQwx7f
— jeroen blokland (@jsblokland) June 2, 2020
Warning. Crisis level money printing does not stop the business cycle from playing out.
Panic QE is a symptom of a disease not a cure.
CFTC commercial traders are near record long $ES, almost as high as late 2007.
Their mantra is don’t fight the Fed.
How’d that work in 08? pic.twitter.com/YLxkc84n2V
— Kevin C. Smith, CFA (@crescatkevin) June 1, 2020
???????? Hertz Global Holdings Inc, JC Penney Co. and Neiman Marcus Group were just a few of the big names that sought US bankruptcy protection in May. The 28 filings took the YTD total to 99, putting 2020 on pace to top 2008 — the second-most on record in data tracked by Bloomberg. pic.twitter.com/iThvUtJ1dL
— Christophe Barraud???? (@C_Barraud) June 2, 2020
#Trump is falling behind in the Presidential race. pic.twitter.com/GJtIRDFN3o
— jeroen blokland (@jsblokland) June 2, 2020