Bank deposits guaranteed
When there's a Bank Run,' Barked Biggie Too.
"When there's war," said the Chief Global Strategist of one Wall Street's Too Big-To-Fail operations.
"And we got..."
Biggie screamed "When we had Covid,"
"What will we do when unemployment goes up?"
You don't interrupt Biggie while he's on a roll so I nodded.
It's all about contracting, whether it be in the banking sector or commercial real estate. Why can't we have another big, bad recession in the second half?
Biggie stated that if investors lose faith in the US government's credibility due to the debt ceiling and poor handling of the banking crisis, and progressives start screaming for stimmy check at the first sign of rising unemployment, then there is a problem.
"They talk about UBI, and then it's over,"
He said it, his voice dropping to a whisper.
"And now, let me tell you about Armageddon.
This report, which is a -200k nonfarm payrolls report, leads to a 50bp increase in long-term bond yields. This is where policy-makers are taking us. To be an emerging market.