Newsman @WSJ. Just a lad from Leeds with a lust for markets, economics and history. My views, you're welcome to them. Fans say 'quite foxy and devious'.
The Fed has been running its dollar swap facility for three months. It worked really well!
How go fix a dollar funding crisis... For free! Some praise for the Fed's dollar swap facility, use of which is now falling, since it worked.
People complained about stock market-driven inequality when household stock ownership was falling, and now that retail traders are piling into bankrupt firms and speculative moonshots without any revenues, they complain about that too! Can't win with these people.
RT @_SidVerma: U.S. stock futures tearing down the last remaining short seller
Starting to think retail traders using stimulus money to bid up the shares of bankrupt companies might not have been a positive signal about the health of the market at all
RT @GalbraithStan24: @Birdyword fall? 😂😂😂
In the next three months, US equities will
UK population about 12.5% higher now than in '02 - population adjusted the GDP fall looks like it'd take you back to '97 / '98 - which is still sort of vaguely impressive to me (again I know this is not the takeaway of this data)
I dimly remember 2002. I enjoyed Grand Theft Auto: Vice City until I was banned from playing it by my mum, on discovery of the contents of the game.
I know this ain't the main takeaway from this, but it's sort of cool that there's been enough economic growth in the last couple of decades that an almost total seizure of most discretionary economic activity only takes you back to a normal period in 2002
Huh, something going on here by the looks of it
Many people don't know that the story of Hachiko is based on Futurama's 'Jurassic Bark'
Edelman Pulls Out Of 'Relaunch Hong Kong' PR Tender'relaunch-hong-kong'-pr-tender#.XuL6OAq9nx9.t witter via @provoke_news
They're just a solid bunch of lads aren't they, the bees. Not sure there's any other insect that's so obviously just a good egg as the honest bee.
RT @nishagopalanhk: Deposits aren’t fleeing Hong Kong though foreign currency deposits have risen. In fact, money is pouring in — HK dolla…
RT @S_Rabinovitch: The constant focus on the yuan's value versus the dollar obscures the big development of the past five years: China's sh…
On a personal note, I left London for Hong Kong on June 12 the previous year. Two very different years.
RT @MylesUdland: This is very declarative
This all became grimly normal during the subsequent six months, but at the time if felt unimaginable.
A lot of people shared images earlier this week of the huge June 9 marches a year ago in Hong Kong. June 12 is a closer memory for me - first use of tear gas in 2019, against demonstrators occupying the road outside LegCo. Respirators were uncommon, lot of panic that day.
Nasdaq now up a paltry 5.8% for the year. Lots of bargain-hunters will be diving in at these cheap levels.
Me when markets rise: I'm a bull but these levels are insane. There's no reasonable justification for this. Fiscal and monetary policy have backstopped the economy, not ensured a post-pandemic boom Me when markets fall: do you cowards have no respect for Jerome? Log off
RT @webbhk: I've been overwhelmed by tributes and good wishes, far too many to reply to. Thank you all so much. Reading some of the media h…
62.4% of all domestic equity fund managers underperformed the S&P Composite 1500 in the first quarter of 2020. When you add the beginning of the market recovery in April, the results worsen with 64.3% of active managers underperforming the index.
RT @Gilesyb: Out of idle curiosity: are the experts who were going around saying "the prevalence is much higher, the mortality rate much lo…
Heard @_SidVerma will be doing the endorsement on the inside cover
I have no idea what the work will be like but had to laugh at Carney's post-BOE book being called “Value(s): Building a Better World for All” - sounds like a title workshopped by a Davos Young Leaders For Sustainable Business panel
As @alexhern notes the Google data is based on actual movement rather than directions - but it displays the same thing - UK distancing continuing for longer. By the way Google, please make the downloadable dataset easier to use! It's horrible.
RT @alexhern: @Birdyword FWIW, Google's is much better than Apple's; the latter only tracks people asking for directions, while the former…
RT @tom_nuttall: There's little more tedious than Twitter epidemiology. But for anyone who was watching Britain's covid response from abroa…
Again, for all the discussion about Brits not taking lockdowns/distancing seriously, the Apple mobility data (limited, of course) rather looks like the UK has taken it very seriously indeed. Google mobility data has the same pattern.
I don't quite understand the formation of this tweet. The UK has one of the largest per capita death tolls already. This is a "I wouldn't start from here" problem. It's not something that is yet to happen.
You would think economists, as much as anyone, might grasp the incentive problems created by artificial scarcity
Also the SCMP does some great graphics.
Shouldn't underestimate just how much this has debilitated the ability of protesters to gather, very visible this year - hard to get marginal attendees out when thousands of frontliners who usually formed the bulwark between them and the police are being prosecuted/investigated.
RT @jamesplloyd: All of North America’s deficiencies relative to Eurasia can be explained by reference to the former’s paltry 110 V electri…
Anyone heard much about this Jerome Powell guy? He seems pretty ok.
Sorry, I forgot, via "if corona doesn't take you out, can I" 🤢
Screeching sound of a million rubbish Tinder bios being changed from "Looking to leave the single market" to "Will you be in my support bubble 😉"
RT @odaiwai: @Birdyword An airpot (Zojirushi) is normally quite well insulated. Best to think of it as a thermos with a heating element and…
I'm not sure on the face of it it's that wasteful - apparently a Zojirushi keep warm uses about 40 watts per hour, a single boil of a regular kettle 100 watts. So it depends how much tea etc you're drinking.
I used to (and still do) mock Americans for their kettle barbarism. But since moving to HK I've discovered kettles that keep water at a permanently high temperature are common, preventing endless reheating, and in fact we electric kettle Europeans are quasi-barbarians after all.
"Li Keqiang said last month that 600 million people, or more than 40% of the country’s population, have an income of just 1,000 yuan ($141) a month" - @jackycwong (That's close to or maybe even a little below an average monthly income in Vietnam)
Also: Dayanis Valdivieso, 22, in used some of her $1,200 government stimulus check to trade using a Robinhood account. “It was basically free money, so, you know, I decided to play around with it,” she said. “You might lose some, you might win some. It’s like a gambling game.”
This is a great story and includes a rare 💯🔥👑 quote: “It took me a while to figure out that the stock market isn’t connected to the economy,” he said. “I tell people there are two rules to investing: Stocks only go up, and if you have any problems, see rule No. 1.”
The inflation will be here any minute
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