The fed laid out plans to buy up individual Corporate Bonds this as the emergence of new coronavirus hot spots around the country add to fears of a second wave so why, guy adami, are markets seemingly so immune to these concerns is that actually a good sign for this rally no, its not. But before i have to i would be remiss, melissa, if i didnt wish the b. K. , the bitcoin baller a happy belated birthday. His birthday was yesterday do you know whose birthday is tomorrow i wont keep you in suspense adam smith would have been 297 years old tomorrow why do i mention him i had to read that book the wealth of nations in college. You probably read it as well he was the father of free market capitalism well, what you saw today was the exact antithesis of that and im going to get added by everybody. To think this market is at all free market is a fools folly. The fact that we rallied into this announcement by the fed, which we all saw coming or they announced it prior shouldnt really surprise a
The big boet on bitcoin thats got everyone talking. But first, we begin with a trip back to the future for the markets and this was flagged by our own dan nathan a year ago today it was trading at 2900 and basically back to that exact level and lets fire up the flex capacitor to see what life looked like and wow, the world would change this time last year the s p 500 would trade 17 times pe and the tenyear note, and unemployment j was just over 3. 5 and Flash Forward to today, it is trading 20 times, and the yield. 6 and unemployment is projected to hit 16 and gdp is negative for the first time in over a decade. The world has been turned upside down and the market doesnt steam to care. So if youre an investor, should you make like a tree and get out of there i am told thats a funny line from the movie youve never seen the movie i saw it. The movie was released in the summer of 85. I think i turned 50 that year. It dawned on me as i listened to your intro the economy is george mcfly. Th
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