Treasuries are down 8.76% to pick the equities up. They're throwing the treasury at the equities market. That's a theft of tens of trillions, at this rate. That's how they're using the crisis.
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But the dollar appreciated in a kinda dramatic way putting a whole lot of stress on the r.o.w. And no, NPV calculations are not messed up at the ZLB. What we’re seeing in equities has imho little to do with the Fed and much more with retail traders gambling 2000 style ...
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that's not a widely held belief at all! if faith in the fed undergirds, say, only a third of the the faith people have in equities, I think it's a significant aspect of this house of cards! look at the people rushing into Hertz after bankruptcy? Why? They're expecting a bailout!
End of conversation
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