Blackrock is managing the fund. The trades will be executed, as usual, with Primary Dealers. The Fed put out a list of accepted counterparties, and at a quick glance, virtually all of them were Primary Dealers.
The direct outright purchases of individual corporates is a new wrinkle. Previously the Fed was only going to buy ETFs.
The size of these transactions is less than a rounding error relative to regular OMO.
While I think that a Green New Deal is a good idea in theory, and I greatly admire AOC, that bit you wrote about AOC having a proxy from the Treasury is loony tunes gibberish.
No one in modern history has come close to the spending of the current Regime. The last two D administrations reduced the deficit. In fact, Clinton ran a surplus. After the initial post GFC surge, Obama shrank the deficit. The D's are the ones who are fiscally responsible. After the next round of pandemic relief, the deficit will shrink, but from what level. From $800 billion a month to 200-300 billion per month? We used to think a trillion a year $80B/mo. was crazy.
This won't be useful to anyone for any purpose whatsoever but: not only do I not know where the market will go nor what to do about my various positions, commitments, bets and wagers, but I also have no clue about the likely or unlikely outcomes of the pandemic, the protests, the police, the social compact, international relations, my future as either a salaried employee, a consultant or a punter, the future of my neighbourhood, or whether things are about to get cataclysmically worse or exponentially better.
In fact, I don't know whether to shit or steal third.
All I know is that I'm in a state of great angst about things large and small. Real angst. Can no longer bring myself to take a toke or a drink, because I feel like constancy of focus might be all I have left. That and my health, my marriage, and at least my absence of debt. A few friends, and still a job and some paying gigs, at least for right now.
Thank goodness for my blessings, because beyond those, shit is off the hook fucked to me.
Let's not forget the Trump branded vaccine being pushed out in a couple of months - six months ahead of the most optimistic schedule set by actual doctors - royalties of $0.02 per dose and it comes with a "winning" Morse code set in case you get locked-in syndrome and need to communicate with your eye-lids.
Specie- You've made some unsupported statements, so I'll take it upon myself to set the record straight.
I've been studying this data pretty closely as you know. My self training and inclination is in recognizing facts and using logic to analyze those facts and reach the most likely conclusion.
I've come to the conclusion through my review of worldwide data, that this pandemic is all too real. It is wreaking havoc internationally, and particularly so in the US, where the political and social will to fight it is lacking in large swaths of the country.
It's very clear that the pandemic can be brought under control, although not completely defeated. Many countries have done it. Many US states have done it, after a ferocious first wave that killed thousands of people.
Fighting against the spread of the disease is a social choice. Not doing so is also a choice. The governors of Florida, Georgia, Texas, and Arizona, among other Red states, chose to surrender without a fight. They now are beginning to reap the whirlwind.
Unfortunately, those who made that choice also impose the outcome of death on the most defenseless among us. From my perspective as a humamist, that's a monstrous moral failure.
The simple act of making mask wearing mandatory works. Societies that have done that have come out on top of the situation. The story of the infected hairstylist in Missouri is apocryphal. Nobody got sick from the sick people working in that salon because everybody wore masks. It works on a societal level as well. Hong Kong is an example of that.
FALSE- Coronavirus is a type. For many people, this variant is no worse than the common cold. This is a deadly variant for some of us.
FALSE- The increase in positive % shows that this is not simply a matter of more testing. And ask yourself why there might be more testing. Because more testing is available? But perhaps also because more people are getting sick? Yes, in many places there has been more testing. And in virtually all cases, the percent positive is rising. And indeed so are hospitalizations.
The deaths come last. Hopefully doctors have learned enough to keep more people alive even without new medicines to cure or fight the disease. I hate for any kid to lose any grandparents.
- FALSE Antibody tests are seperate.
Who is "they?" and why would "they" want to do that? In Red states, they are doing everything in their power to suppress the facts. "They" denied there was a problem at all until a few days ago when the facts became incontrovertible.
Furthermore, the numbers of excess deaths from all causes shows that the numbers of deaths from COVID 19 are being understated.
The death rate lags by 3-4 weeks and Red state governors have had an incentive to suppress the data. Excess deaths are the best measure. Now their desire to ignore the facts is catching up with them.
Arizona reported a big increase in deaths yesterday. I suspect this is the tipping point, but it's hard to know because this is the one datapoint where the incentive to suppress the truth is greatest. Red states will do their utmost to suppress the reporting of deaths, just as they have done and will continue to do their utmost to suppress voting by Democrats.
But in a few more weeks hospitals will be overwhelmed and makeshift morgues will become widespread. It will be hard to suppress those facts. The trends are already clear, and the reporting in Texas is already beginning to reveal just how bad the situation is.
I sincerely hope that no one here loses a parent, grandparent, or any loved one. And I urge you that if you are over 60 and have one of the risk factors, do whatever you can to preserve your life.
Don't let what happened in New York happen to your home town and your state. Don't endanger yourself and your family. Wear a mask. Maintain awareness of personal seperation. Don't congregate in groups, especially indoors. Do your part to keep yourself, your loved ones, and your community alive and healthy, so that we can all go back to a semblance of normality as soon as possible.
Southern churches seem likely to be super-spreader facilities.
With the virus seemingly running unabated & amok throughout US, I am back to worrying about supply chains. I don't even know what a molex is, but a deep freeze filled with protein for a long winter by September 1st seems cheap insurance against whatever comes next.
BANKRUPTCY PUMP AND DUMP
Thats all Hertz stock is
Bankruptcy pump and dump
And even the company wanted to get in on the action too......
By issuing stock.
The beneficiaries of course being the bond holders.
But they were too late to the party
As the stock is now in the DUMP phase.
What they needed to do is get approval for the stock issue BEFORE the company went into chapter 11.
Then they could have used a smart algorithm to dump (oops I mean issue/sell ) the stock to all the robinhooders
To maximise their take while in chapter 11.
sometimes the trees tell you much more than the forest.
MSFT new all time high of 195.76 finished at 186.27 on 53 MM shares down 5.37% on the day
AAPL new all time high of 351.06 finished at 335.90 on 51 MM shares down 4.80% on the day
TSLA new all time high of 1018.9 finished at 972.84 on 16 MM shares down 5.09% on the day
NVDA, PYPL, AMZN etc etc etc......
IT IS ALL OVER
I'm glad to hear that fx. I'm black and my uncle served in the army for more than 20 years. He was in Germany for a few years and was there when the Berlin Wall came down, even brought back a few chunks from the wall. I thought that was cool. All my friends that served in the military spent time in Germany and always had great things to say about their time there. I want to visit Germany some day.
Floyd ceremony now on CNN with rev Al Sharpton 😎✌🏻
When I was a kid I thought that most americans are black. That was because in my area there were a few tenthousands of US soldiers and many of them were black. They were good to me, they were nice and I found them cool. It was a good time back then.