🚨HISTORIC DECLINE IN TRADING LIQUIDITY
Bloomberg reports the two-week drop in the S&P liquidity index is the worst on record since 1996.
“That’s pretty surprising given that conditions are nowhere near as bad as they were during the GFC or Covid”
OUCH.
— Genevieve Roch-Decter, CFA (@GRDecter) August 9, 2024
Wild chart…
Equity Liquidity evaporated this past week, which obviously increases volatility.
This is the worst liquidity since the ’23 bank crisis.
from GS via @zerohedge pic.twitter.com/ZJmR24P3WV
— SpotGamma (@spotgamma) August 10, 2024
Microsoft
Bellwether stock.
Ominous set up .
Very concerning . pic.twitter.com/EV8PW3ivFI
— The Great Martis (@great_martis) August 10, 2024
The consequence of over-leverage is deleverage.
Entree served, main course shall be an unprecedented visual delight.
Its a process that will take some time . pic.twitter.com/z0NlAYkrFV
— The Great Martis (@great_martis) August 10, 2024
For being so “dominant,” it sure is impotent to slow wage disinflation and goods & services disinflation
What’s missed in the dominance argument is that FLOWS always win out over STOCK. The economy cares about activity at the MARGIN
Right now, government spending is contracting t.co/R7xizNoDvX pic.twitter.com/FihtnDIRrG
— Danielle DiMartino Booth (@DiMartinoBooth) August 10, 2024