United States: The US fiscal 2020 budget gap hit $3 trillion. The trajectory going forward will depend on whether we see a CARES 2 package.
The good news is that the government’s interest burden is expected to decline over the next few years, helped by extraordinarily low Treasury yields.
China: Bond yields continue to grind higher.
The 10yr spread between China and the US hit a multi-year high.
Energy: The Brent curve has been moving into contango, and floating storage activity is picking up again.
Equities: How significant was Softbank’s options trading?
Credit: The global corporate debt market credit quality has been deteriorating over the past few decades.
Food For Thought: Apple vs. Android:
Edited by Daniel Moskovits
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