Big day today with President #Biden’s speech to and the #Fed meeting. Re former, look for details on the durability of the “go big” policy paradigm and transition to “paying for it.” For the latter, please see: Link #markets #economy #finance #federalreserve
Mohamed A. El-Erian Wed 28 Apr 2021 09:56Mohamed A. El-Erian is a Bloomberg Opinion columnist. He is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE, the parent company of Pimco where he served as CEO and co-CIO; and chair of Gramercy Fund Management. His books include "The Only Game in Town" and "When Markets Collide."- The link to the @WSJ article with the latest on the damage inflicted on #banks by #Archegos. I feel compelled to note, yet again, that the $10 billion plus of reported losses is stunning, as is the ability of a family office to obtain such high leverage. Link https://t.co/MwF0n81O3P Mohamed A. El-Erian Wed 28 Apr 2021 03:11
The battering to Wall Street banks from Archegos Capital Management topped $10 billion after UBS Group AG and Nomura Holdings, Inc. reported fresh hits caused by the fund’s collapse.
Archegos, the family office of Bill Hwang, wreaked havoc across Wall Street when heavily leveraged bets it made on a small collection of stocks unwound, triggering huge losses at a half a dozen banks that had lent heavily to the investor.
UBS, Switzerland’s biggest bank by assets, said Tuesday it lost $861 million following Archegos’s implosion, a bigger hit than analysts expected.
Meantime, Japan’s Nomura, which flagged losses of around $2 billion last month, upped its total damage tally to $2.85 billion, leading to its worst quarterly performance since the end of 2008, during the global financial crisis.
Nomura said it had taken swift action to shore up its risk-management systems, and had found no similar dealings with other clients. The bank had exited more...
- US 10-year back above 1.60%. Direction of travel will be higher but,importantly,in an interrupted (non-linear) manner-not because of growth differences but due to: Differences re transitory inflation; Waves of foreign/liability-matching flows; Respect for Fed financial repression https://t.co/wp5jlSeoNn Mohamed A. El-Erian Wed 28 Apr 2021 02:31
- .#BigTech continues to do what it has been very good at doing. Mohamed A. El-Erian Tue 27 Apr 2021 20:40
- RT @BBCYaldaHakim: "You are running three races here; you're running a race against infections which you must win, you're running a vaccina… Mohamed A. El-Erian Tue 27 Apr 2021 20:00
- RT @CNBC: "One of the problems with this outcome-based approach that the Fed is taking, is that the risk of falling behind is high and then… Mohamed A. El-Erian Tue 27 Apr 2021 16:10
- Big data beat on consumer confidence: At 121.7 for April, the index came in well ahead of consensus expectation (113), driven by household perceptions of current economic conditions Delta between jobs viewed as plentiful and hard to get rose sharply and is now back at 2018 levels Mohamed A. El-Erian Tue 27 Apr 2021 16:10
- Looking forward to the conversation with @BChappatta and @kgreifeld Thank you " @bopinion on Clubhouse ". #economy #markets #fed @federalreserve @joinClubhouse #centralbanks Link Mohamed A. El-Erian Tue 27 Apr 2021 15:10
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- RT @bopinion: ?? CLUBHOUSE ALERT! At 2 p.m. ET, join @BChappatta and @kgreifeld as they speak with @elerianm about what to expect from the… Mohamed A. El-Erian Tue 27 Apr 2021 14:50
- .@Tesla joins other companies in citing supply #bottlenecks as a notable operational issue. Expect many other firms to do the same in their upcoming earning releases. Will be interesting to see if they say anything about passing through the costs to customers via higher prices. Mohamed A. El-Erian Mon 26 Apr 2021 21:19
- A video clip from this morning's conversation with @BeckyQuick on @CNBC. Thank you @andrewrsorkin, Becky, and @JoeSquawk for having me on @SquawkCNBC Link #economy #markets #investors #investing #fed @federalreserve Mohamed A. El-Erian Mon 26 Apr 2021 21:14Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, joined "Squawk Box" on Monday to discuss what he's seeing in the markets ahead of the busiest week of first-quarter earnings season.
- As #Fed officials prepare for their two days of meetings starting tomorrow, the weekly @GoldmanSachs US Financial Conditions Index has eased to yet another record level, falling 3.1bps to an all-time low of 97.34. @federalreserve #centralbanks #economy #markets #federalreserve https://t.co/1bJ5OVZIhF Mohamed A. El-Erian Mon 26 Apr 2021 20:24
- Imagine this: In the middle of a BBC interview I was doing just now, a pigeon flew in via the chimney, fluttered around the room, and then settled down. This is what I saw when I finished the interview. https://t.co/x7xiLHbKaV Mohamed A. El-Erian Mon 26 Apr 2021 14:04
- RT @CNBC: "One of the problems with this outcome-based approach that the Fed is taking, is that the risk of falling behind is high and then… Mohamed A. El-Erian Mon 26 Apr 2021 14:04
- Here is the chart for reported #Covid deaths in #India. Concern about this very sad reality is amplified by at least two things: The very latest daily reading (2,812) is yet another record; Many feel that the recorded numbers could well under-estimate the massive ongoing tragedy. https://t.co/Qap0uwKxfS Mohamed A. El-Erian Mon 26 Apr 2021 13:14
- What's happening in #India is truly tragic So many lives are being destroyed as deaths/hospitalization climb. Latest 3-day infection count is one million. Making things worse: Peak damage from this #covid wave is yet to be reached. India needs help from inside and other countries https://t.co/IeoDjpYwaO Mohamed A. El-Erian Mon 26 Apr 2021 11:34
- FYI, thoughts re this week's @FederalReserve meeting: the what, the why, and the so what. Link #economy #markets #fomc #fed #cantralbanks Mohamed A. El-Erian Mon 26 Apr 2021 11:24Mohamed A. El-Erian is a Bloomberg Opinion columnist. He is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE, the parent company of Pimco where he served as CEO and co-CIO; and chair of Gramercy Fund Management. His books include "The Only Game in Town" and "When Markets Collide."
- Forget about asset class correlations and all that, it's a dream day for #investors as portfolios benefit simultaneously from higher prices for #Stocks #Bonds Commodities #Bitcoin #Dollar And a dream set of drivers: Fundamentals/data, #Fed remarks, #risk appetites and flows Mohamed A. El-Erian Thu 15 Apr 2021 15:06
- Stock futures like these numbers as the associated good news on economic fundamentals is being accompanied by a dip in yields with 10 year #bonds now trading below 1.60%. #markets #stocks Link Mohamed A. El-Erian Thu 15 Apr 2021 12:56
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- On US data: A beat on retail sales with a growth of 9.8% compared to consensus expectation of 4.8%. The 8.2% growth in sales ex autos and gas was almost 2 percentage points above consensus expectation. Initial jobless claims also came in better than expected at 576,000. #economy https://t.co/SH4QVpXPn0 Mohamed A. El-Erian Thu 15 Apr 2021 12:56
- Thanks @carlquintanilla. This is yet another illustration of the massive disconnect between #finance and the real #economy. Also see prior tweet please. #mainstreet #wallstreet Link Mohamed A. El-Erian Thu 15 Apr 2021 12:46
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- ... 10 plus years of massive central bank #liquidity injections. Imagine if the ultimate intended beneficiary of this monetary largess—the real #economy—had actually seen more benefits. Instead, the material impact had been felt by #finance. #markets #centralbanks #investors Mohamed A. El-Erian Thu 15 Apr 2021 11:21
- From Bloomberg Markets and highlights the massive Main Street-Wall Street disconnect of recent years. I remember, and it’s not so long ago, when $2 trillion was a big deal. Now, theres a $9 tr asset management firm. Reflects the influence of the public sector, including ... 1/ https://t.co/LtmlHpEevJ Mohamed A. El-Erian Thu 15 Apr 2021 11:21
- From the @BW article on "Millions Are Tumbling Out of the Global #MiddleClass in Historic Setback" I would note that this is part of a more general phenomenon: namely, the hollowing out of the "belly" of many distributions -- be they economic, institutional, political or social. https://t.co/GoAKugt5jm Mohamed A. El-Erian Wed 14 Apr 2021 14:10
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