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United States: The US lost about 700k jobs (Morgan Stanley’s forecast was spot on).
Given the initial unemployment claims figures, the March report was just the tip of the iceberg.
Commodities: Funds have dramatically shortened their exposure to commodities.
Equities: This chart shows the 2-month changes in asset managers’ S&P 500 futures positioning.
Credit: Rating downgrades are accelerating (see definition of fallen angels).
Global Developments: The Fed’s securities holdings could double this year.
The rapid monetary expansion could put substantial pressure on the US dollar.
Food for Thought: Local TV viewership:
Edited by Daniel Moskovits
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