RT @economics: The U.S. and global economies surprised most analysts to the upside in 2020, but inequality worsened for income, wealth and…
Mohamed A. El-Erian Tue 16 Mar 2021 03:11

A #Covid perfect storm with adverse health/economic/social consequences: Soaring infections/hospitalizations forcing some areas to lock down again; 11 countries suspending use of the #astrazenecavaccine due to blood clot concerns; and, before that, Slow deployment of #vaccines. https://t.co/Kh21b9K3lF
Mohamed A. El-Erian Tue 16 Mar 2021 01:46

Per the @GoldmanSachs US Index: Financial conditions eased -- by 12.9 basis points to 97.8 -- in the last week despite higher yields on government #bonds. #markets #liquidity https://t.co/Vysx9UDA07
Mohamed A. El-Erian Mon 15 Mar 2021 22:05

RT @markgongloff: We can't let the economy's surprising strength obscure how deeply unequal the pandemic, recession and recovery have been…
Mohamed A. El-Erian Mon 15 Mar 2021 16:55

RT @Gates_Cambridge: Sarah W. Hirschfield on a Gates Scholar-led event with @elerianm discussing the impact of the Covid pandemic, decision…
Mohamed A. El-Erian Mon 15 Mar 2021 14:20

How the world has apparently changed in #markets It's again possible to tell what the NASDAQ is doing by looking at yields on US 10-year #bonds, and vice versa--and not in the "textbook" manner. These days, there's a +ve correlation between "risk free" bonds and high beta #stocks
Mohamed A. El-Erian Mon 15 Mar 2021 14:15

Per @MarketWatch Another US data beat consistent with my view that analysts are yet to fully internalize the surge in growth Mar Empire State manufacturing index rose to 17.4, compared to consensus expectation of 15 and Feb's 12.1 Prices paid rose 6.6 pts to 64.4, a 10-year high. https://t.co/FIlTcVvayv
Mohamed A. El-Erian Mon 15 Mar 2021 13:25

This formulation is a great way to highlight the communication challenge facing the #Fed this week. Assume the #Fed's answer is no and ask what comes next. Possibilities: It's because: The growth surge will fade Inflation will be contained Not worth risking market instability Etc https://t.co/s7GhtXKTSF
Mohamed A. El-Erian Mon 15 Mar 2021 13:15

It may well be the first time in decades that I have not watched any of the nominations for the best picture. #OscarNoms #Oscars #Oscars2021 #OscarNominations https://t.co/WYMTxG385z
Mohamed A. El-Erian Mon 15 Mar 2021 13:05

RT @bopinion: The U.S. and global economies surprised most analysts to the upside in 2020, but inequality worsened for income, wealth and o…
Mohamed A. El-Erian Mon 15 Mar 2021 12:30

US #stocks are set to open at record highs as #markets ... Welcome further improvements in growth projections; Handle well the rise in yields so far; Expect the #Fed to maintain its ultra loose policies; and Anticipate receiving some of the stimulus checks. #investors https://t.co/FjCRjIun4H
Mohamed A. El-Erian Mon 15 Mar 2021 11:30

The weekly look-ahead for the global #economy and #markets is dominated by three policy meetings with each of the #CentralBanks -- the @FederalReserve, @BankOfEngland and #BoJ -- facing quite tricky trade-offs. Re data, look in particular for #China IP and US IP and #RetailSales.
Mohamed A. El-Erian Sun 14 Mar 2021 19:54

This week's @FT "Person in the News" is @CathieDWood, the CEO/CIO of @ARKinvest who manages the $23 billion #Ark investment innovation fund and several related investment vehicles that have notably out-performed in the last few years. Link #markets #investors https://t.co/D8i8NiUx4O
Mohamed A. El-Erian Sun 14 Mar 2021 19:24

Interesting @GoldmanSachs projections for the 2021 US #economy. Their 7% growth, is above consensus and, absent a new #covid shock, likely to be right They project a 1.5 percentage point jump in headline CPI inflation (to 2.7%) but a change of only 0.1 for core Note 10-year yield https://t.co/L7LoSGSYa7
Mohamed A. El-Erian Sun 14 Mar 2021 16:59

From @Axios and sadly consistent with many other indicators showing that #Covid has disproportionately harmed women. Reversing this is critical for the meaningful economic/social recovery that is both highly needed and possible with the right public and private sector reactions. https://t.co/xrgL5CvxP4
Mohamed A. El-Erian Sat 13 Mar 2021 22:54

Per Bloomberg. #bitcoin # #currency #markets #crypto #cryptoinvesting #cryptoassets #bitcoins @markets https://t.co/ZEN0AkGVf5
Mohamed A. El-Erian Sat 13 Mar 2021 15:13

From @markets #stocks #markets #bonds https://t.co/FOylknsSIH
Mohamed A. El-Erian Sat 13 Mar 2021 03:33

Just received this photo from an event that took place this week. I was beamed into a well-organized and interesting conference in #Australia organized by the @FinancialReview It was refreshing and inspiring to see that good virus management allows for in-person events to return https://t.co/jHdBiLqxhe
Mohamed A. El-Erian Fri 12 Mar 2021 22:28

Overall, it ended up being a good week for investors: By gaining 3.1%, the NASDAQ recovered some of its sharp 10% plus correction between Feb 12 and March 5. This didn't come at the expense of the Dow which rose 4.1%. The overall move in yields doesn't appear dramatic on a ... 2/ https://t.co/MUAa5ySZsZ
Mohamed A. El-Erian Fri 12 Mar 2021 21:58

weekly basis, with the 10-year yield closing at 1.62% compared to 1.55% a week earlier. However, in the process, this yield traded as low as 1.47% and as high as 1.64% intra-week. More on this to follow. #investors #markets #bonds #stocks #investing 3/ https://t.co/P2WjkLdVWJ
Mohamed A. El-Erian Fri 12 Mar 2021 21:53

Overall, it ended up being a good week for investors: By gaining 3.1%, the NASDAQ recovered some of its sharp 10% plus correction between Feb 12 and March 5. This didn't come at the expense of the Dow which rose 2.6%. The overall move in yields doesn't appear dramatic on a ... 2/
Mohamed A. El-Erian Fri 12 Mar 2021 21:53

With different narratives in play, it wasn't a straightforward week for #investors even though it was good overall. What's key to figure out is which aspect of this week’s #markets has more information content for the period ahead: The journey or this Friday’s destination? 1/
Mohamed A. El-Erian Fri 12 Mar 2021 21:48

This @FT article highlights one of the unintended consequences/collateral damage of the prolonged pursuit of unconventional monetary policies--in this case, the causality link between negative rates,German municipalties and the #Greensill collapse Link #economy https://t.co/8E0VnrmSX5
Mohamed A. El-Erian Fri 12 Mar 2021 17:52

Different people will see different things in this: Dow at a new record high; NASDAQ down almost 2%; 10-year yields up 11bps. To me, this illustrates the extent to which liquidity risk is dominating the threats to economic/corporate fundamentals from interest rate/credit risks. https://t.co/QLM55yVN6y
Mohamed A. El-Erian Fri 12 Mar 2021 16:12

Driven by current conditions/expectations, March consumer sentiment came in at 83, up 6 points and above consensus expectation of 78.5. The string of US data beats illustrates that the strength of the recovery is yet to be incorporated fully in forecasts and Fed’s policy thinking
Mohamed A. El-Erian Fri 12 Mar 2021 15:52