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Sunday, October 24, 2021

“As Boom As It Gets”: Wall Street Has Forgotten All About Covid, Sees “Tantrum”...

It was exactly one month ago that Wall Street exhaled a sigh of relief, and according to the March BofA Fund Manager Survey, consensus among Wall Street's professionals was that Covid was unofficially "over"...... and after a year of covid dominating the league tables as the "biggest tail risk", both inflation & taper tantrum were…

“It’s Over”: As Far As Wall Street Is Concerned, COVID Is History

At the end of January, when looking at the plunge in covid cases, deaths and hospitalizations we asked a question: "Is it almost over?" We got the answer today, when BofA published its latest Fund Manager Survey (which as is the tradition every month, polled some 220 panelists with $630bn in AUM). The title said…

Wall Street Declares “The Beginning Of The End Of The COVID Crisis”

One month ago, we said that the beginning of the end of the covid pandemic would mysteriously coincide with the Biden inauguration, and sure enough that's precisely what has just happened. As BofA's Ethan Harris writes overnight in his daily COVID news wrap, "with COVID cases falling and vaccines accelerating, this is probably the beginning…

Wall Street Bonuses “Wrecked By Pandemic” 

It certainly has been a chaotic year for finance professionals, many of whom have been forced to work from home or, for some, work from the Hamptons. As early as May, we outlined how Wall Street bonuses for 2020 were expected to slump. With 49 days left in the year, New York consulting firm Johnson Associates confirmed in a…

Majority On Wall Street Expects Stocks Lower In 3 Months, Braces For Second Virus...

Between May 13 -15th, Deutsche Bank conducted its seventh monthly market sentiment survey covering 450 market professionals across the world, in which questions emphasized the covid-19 pandemic around the working from home (WFH) experience as well as also people’s thoughts on the duration of this pandemic, and how that will impact various parts of their…

A Majority On Wall Street Are Convinced The Fed Is Currently Engaged In QE

While the Fed and its sycophantic echo chamber has been engaged in a bizarro propaganda campaign to convince the public that the monetization of $60BN in T-Bills and the biggest Fed balance sheet expansion in 5 years (and the fastest on record) is not QE, two weeks ago we demonstrated that what the Fed is…

Drop in Credit Card Debt Rocks Wall Street Pundits

Consumers continued to pile on debt in August, according to the latest data released by the Federal Reserve.But credit card debt fell slightly, raising a troubling question: are consumers close to maxing out the plastic?Total consumer credit grew by another $17.9 billion in August. That represents an annualized increase of 5.2% and pushes total consumer indebtedness…

“This Is Huge”: A Shocked Wall Street Reacts To Today’s “Ludicrous” China Threat

And to think just earlier this morning we were mocking the complacent market - and this Reuters headline - for justifying the latest overnight levitation in risk assets. Just like last Friday, when out of the blue stocks tumbled when suddenly it appeared that a trade suddenly was far less likely after China canceled its…

Wall Street Is Convinced A Recession Is Coming As Investors Are Most Bullish On...

It's that time in the month when the results of the Bank of America Fund Manager Survey - which unfortunately has emerged as a contradictory exercise in intellectual masturbation, in which respondents answer what they'd like to respond, not what they are actually doing - are pored over by Wall Street, if only for a…
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