Monthly Archives: May 2020

COTD: The REIT Beat

Posted on May 19, 2020 by macromon

COTD: Chart of the Day Interesting chart of the relative performance of the various  REIT sectors.  Our wild ass guess (WAG) is that commercial is still a sell. We think the COVID crisis will be remembered, among other things, as … Continue reading →

Posted in Real Estate, Uncategorized | Tagged | 4 Comments

GPS: The Battle Over Reopening – MUST VIEW

Posted on May 18, 2020 by macromon

Empathy – the psychological identification with or vicarious experiencing of the feelings, thoughts, or attitudes of another. – Dictionary.com Maybe once every few years we read, hear or see something that is so profound it shakes our intellectual foundation to … Continue reading →

Posted in Coronavirus, Uncategorized | Tagged , , | 5 Comments

QOTD: Walt Whitman

Posted on May 15, 2020 by macromon

QOTD: Quote of the Day Happiness, not in another place but this place… not for another hour but this hour – Walt Whitman, “A Song for Occupations,” Leaves of Grass

Posted in Quote of the Day, Uncategorized | Tagged , , | 2 Comments

Battle OF The Fibos & The Negative Yield Wall

Posted on May 14, 2020 by macromon

Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers. Each level is associated with a percentage. The percentage is how much of a prior move the price … Continue reading →

Posted in Equities, Technical Analysis, Uncategorized | Tagged , | 17 Comments

QOTD: Stan Druckenmiller All Beared Up

Posted on May 13, 2020 by macromon

QOTD: Quote of the Day Hedge fund legend, Stanley Druckenmiller, is all beared up saying the risk-reward for equities is the worst he’s seen in his career, and he has been around the block more than a few times.  He does … Continue reading →

Posted in Quote of the Day, Uncategorized | Tagged | 1 Comment

GDP Now Q2 Estimate At -34.90 Percent, So What Now?

Posted on May 11, 2020 by macromon

Summary The Atlanta Fed’s GDP Now is estimating a -34.9 percent Q2 GDP print, which is 3.5x the largest quarterly decline in the post-WWII economy If realized, the 11.3 percent non annualized first-half GDP collapse in 2020 will approach the … Continue reading →

Posted in Black Swan Watch, Coronavirus, Economics, Uncategorized | Tagged | 17 Comments

Curve Flatteners

Posted on May 10, 2020 by macromon

The term “flattening the curve” now means so many things too so many people. Very Churchillian, no?   We maintain what we should be looking for are inversions ala New Zealand and Korea. There are flattened curves and there are … Continue reading →

Posted in Uncategorized | Leave a comment

Average Hourly Earnings Up 4.7 Percent In One Month?

Posted on May 8, 2020 by macromon

Not!  The deception of averaging as most jobs that were lost are in the lower wage sectors, such as bars and restaurants. We have written several posts about how deceptive economic data can be simply because of averaging.  See here and … Continue reading →

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Bad Look Of High Stock Prices & High Unemployment

Posted on May 8, 2020 by macromon

In a few hours, the BLS will release the employment situation for April, which will illustrate the devastation the COVID crisis has inflicted on the U.S. labor market.  Since the crisis began 30 million plus American workers have filed for … Continue reading →

Posted in Economics, Economist, Politics, Uncategorized | Tagged , , , | 16 Comments

TOTD: Six Feet Or Six Feet Under Social Distancing

Posted on May 6, 2020 by macromon

TOTD: ‘Toon of the Day Fairly safe bet this cemetery ain’t in ‘Frisco.    

Posted in Uncategorized | 1 Comment