Greetings,
Rates: Investors are flooding into Treasury bills, rapidly shrinking their portfolio durations. T-Bill yields have turned negative..
Credit: Credit markets are under severe pressure. Here are high-yield bond spreads:
And investment-grade bond spreads:
Commodities: Precious metals continue to struggle as investors give up on safe-haven assets.
Emerging Markets: EM outflows are already more severe than the 2008 crisis.
Global Developments: Online search data show a massive drop in consumer activity.
Food for Thought: States’ recession readiness:
Edited by Daniel Moskovits
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