Finishing off Friday with a full moon. Wishing you all a lovely weekend. #weekend #moon #fullmoon https://t.co/e1u8j5qAYS
Mohamed A. El-Erian Sat 27 Feb 2021 03:38

Today's US data, including the relief-driven 10% surge in personal income,point to favorable prospects for higher private sector activity Core PCI came in at 1.5%. It's unlikely to remain there if higher private and public sector spending isn't met with greater supply flexibility
Mohamed A. El-Erian Fri 26 Feb 2021 15:57

In addition to the steepening of the yield curves, 3 charts are getting a lot of attention among those assessing the broader implications of the notable rise in yields in recent weeks: The move up in real yields, the behavior of (inflation) break-evens, and this yield convergence https://t.co/BzhsLw0bk7
Mohamed A. El-Erian Fri 26 Feb 2021 13:07

RT @crypto: Bitcoin's price rally is not an isolated phenomenon. It is relevant to the design and effectiveness of economic policies, @eler…
Mohamed A. El-Erian Fri 26 Feb 2021 12:57

From Bloomberg on markets challenging the Fed’s policy framework. Continuing yield curve steepening pushes the Fed in an tighter policy corner—either let the market process play out and risk significant market volatility, or more QE/YCT and underwrite additional cascading risks. https://t.co/SxnWj7Vg1l
Mohamed A. El-Erian Fri 26 Feb 2021 00:01

After lots of volatility, a rough day for #investors due to losses on both #stocks and #bonds. This included a 2.5% drop in the S&P (even worse for the NASDAQ) and an 11 bps surge in 10 year yields. And, remember, these two are supposed to be negatively correlated! More to follow https://t.co/08H7itfYWD
Mohamed A. El-Erian Thu 25 Feb 2021 21:36

Two charts that capture well the selloff pressures in the #markets for both #stocks and #bonds. https://t.co/ChjmhggEZl
Mohamed A. El-Erian Thu 25 Feb 2021 18:21

Again, the Buy-The-Dip conditioning kicks in for #stocks erasing almost all of the initial losses in the major US indices. Having said this, the really interesting action is in individual names/sector where we're seeing major moves in reaction to bottom-up and top-down influences
Mohamed A. El-Erian Thu 25 Feb 2021 14:51

From @BloombergTV https://t.co/crAxmjqyW4
Mohamed A. El-Erian Thu 25 Feb 2021 14:21

The strength of the #Euro is adding to the angst of #European economic officials (first chart). This is also part of a general weakening of the #dollar where the #DXY index is now #trading near the lows for the last 12-months (second chart). #economy #markets #currency #fx @wsj https://t.co/AaguI2zfYc
Mohamed A. El-Erian Thu 25 Feb 2021 13:26

Re data, look for US jobless claims. Consensus expectations are for initial claims to come in at 825,000, slightly better than last week's 861,000. It is clear what the #economy needs -- lower numbers. Less clear is what #markets wish to see, especially given the #policy angle.
Mohamed A. El-Erian Thu 25 Feb 2021 13:16

Once again, the focus is on moves in US yield curves. The yield on 10-year government #bonds is up to over 1.40% early US morning (chart). This follows Fed officials comments, including two-days of Congressional testimony, meant to do the exact opposite (and did, but temporarily) https://t.co/15uht8sVrn
Mohamed A. El-Erian Thu 25 Feb 2021 12:21

From the @FT #economy #markets #inflation #europe #eurozone https://t.co/P8mHCIeX7C
Mohamed A. El-Erian Thu 25 Feb 2021 03:16

What a day for #stocks, and I'm not talking just about the 1-1.4% gain in major indices after a timid start. Remember #GameStop? It's back: #GME gained over 100% during the trading session and more after hour All this as #Fed officials provide repeated reassurance about liquidity https://t.co/U1RRHKgZFh
Mohamed A. El-Erian Wed 24 Feb 2021 22:20

Rotation! Around 24 hours ago, I tweeted a simple chart illustrating the 15 percentage point out-performance of the #banks' ETF relative to the #NASDAQ--and that's just for Jan/Feb The updated chart is below, also with the airline sector: The difference is now 20% points. #stocks https://t.co/IollNmUhih
Mohamed A. El-Erian Wed 24 Feb 2021 19:10

Steepening of the US yield curves has acquired a sense of relentlessness in the past few weeks The impact on #markets is highly differentiated, especially for #stocks: What's good for #banks, for example, is less so for #housing. Also acting as a headwind to the market as a whole https://t.co/fJ44Vd7RUv
Mohamed A. El-Erian Wed 24 Feb 2021 15:30

Especially with 10-year yields above 1.40%, #Fed Chair #Powell will reinforce 2 messages: "Long way" from moderating #liquidity injections Eventual taper will be well signaled ahead of time. This requires downplaying #inflation/financial stability #risks. Tricky balance to strike
Mohamed A. El-Erian Wed 24 Feb 2021 14:10

RT @alfonslopeztena: Rich nations must either help developing countries fight Covid or living with virus disruptions, living in a fortress…
Mohamed A. El-Erian Wed 24 Feb 2021 12:00

Rather calm US pre-open, particularly after the excitement of the last few days. Futures indicate a rather flat open for US #stocks. 10-year yields back at 1.37%. Notable exception is #bitcoin --back up above $50,000 (up 5%) in response to more evidence of private sector adoption https://t.co/9bLZExxmyr
Mohamed A. El-Erian Wed 24 Feb 2021 12:00

RT @elerianm: How much stimulus is too much for #markets and financial stability? What should policymakers do given the urgent need to BOTH…
Mohamed A. El-Erian Wed 24 Feb 2021 03:54

Narrative accompanying today’s rebound in #stocks, including and particularly for high beta #tech names such as #Tesla, repeatedly refers again to the trifecta of BTD, FOMO, and TINA—Buy The Dip due to Fear Of Missing Out on a renewed rally as There Is No Alternative to #stocks .
Mohamed A. El-Erian Wed 24 Feb 2021 03:54

Via the @FT, my views on how much stimulus is too much for #markets and financial stability, along with policy implications pertaining to relief, growth-enhancement, better macro-prudential measures, and lessening reliance on #CentralBanks. Link #economy #Fed
Mohamed A. El-Erian Tue 23 Feb 2021 23:49

The @FT's @martinwolf_ joins the debate on "how much fiscal stimulus is too much?" Link #economy #markets https://t.co/KBfuyuVkO7
Mohamed A. El-Erian Tue 23 Feb 2021 22:04

RT @GuardianUS: Rich nations must either help developing countries fight Covid or live in a fortress | Mohamed El-Erian https://t.co/4wlbIR…
Mohamed A. El-Erian Tue 23 Feb 2021 21:34

Chair #Powell's re-assurance that the #Fed will maintain its pedal-to-the-metal approach notwithstanding a host of economic/financial complications contributed to a notable bounce in risk assets S&P (chart) ended up NASDAQ fall limited to 0.5% #Bitcoin partly recovered to $48,000 https://t.co/7ahd3SgyjA
Mohamed A. El-Erian Tue 23 Feb 2021 21:34