Daily Briefing - June 17, 2020

Editor Max Wiethe joins senior editor Ash Bennington to debrief Real Vision’s Crypto Gathering conference. Ash shares his insights from some of the panels he participated in and his recommended pieces of content for viewers if they didn’t have an opportunity to participate. Max and Ash also tee up the case for bitcoin and debate why and how the crypto space will have enduring relevance for years to come. In the intro, Nick Correa discusses the Fed’s Main Street Lending Program and its chilly reception by both lenders and borrowers. Learn more about your ad choices. Visit podcastchoices.com/adchoices

1 Juli 202038min

Managing editor Ed Harrison joins Dave Floyd, founder of Aspen Trading Group, to discuss how to evaluate markets from a technical perspective. Believing that it’s important to “follow the tape” and trade what an investor sees, Floyd shares where he believes bonds and the S&P are headed and how both technical and fundamental analysis inform each other in a market rocked by COVID-19. Harrison and Floyd also touch on distortions of market signals, volatility, currencies, and silver. In the intro, Nick Correa discusses the potential impact of the Payroll Protection Program on small businesses and how the spread of the virus in the US further hurts their chances of making it through the pandemic. Learn more about your ad choices. Visit podcastchoices.com/adchoices

30 Juni 202028min

Editor Max Wiethe joins managing editor Ed Harrison to discuss the latest developments in markets, macro, and coronavirus. Max and Ed examine how the US is currently dealing with the virus and whether that means the nation is par for the course or has “gone off the reservation” as compared to other countries. They also talk about the risk factors that could put a highly volatile market over the edge, consider the longevity of US outperformance, and explore the current market rotation. They wrap up their discussion by sharing their thoughts on the latest video on Real Vision Essential and announce a special edition of the Daily Briefing on Friday as the U.S. observes Independence Day. Learn more about your ad choices. Visit podcastchoices.com/adchoices

29 Juni 202041min

What happens when an upheaval so massive forces financial markets, governments, and society to rethink how our systems work? Michael Krieger, author of the Liberty Blitzkrieg, joins Real Vision to explain what coronavirus and the response to the outbreak has revealed about the condition of American systems – from financial markets to the health care system. Tracing the story of financial markets and societal trends over the past two decades, Krieger outlines how our systems have been pushed to the brink – focusing on emergency policy responses and the everything bubble. He also provides viewers with potential solutions to the systemic decay that has been brought to the forefront by the coronavirus outbreak. Learn more about your ad choices. Visit podcastchoices.com/adchoices

28 Juni 202046min

Steve Greenhut, Western region director at R Street Institute and author of "Plunder: How Public Employee Unions are Raiding Treasuries, Controlling Our Lives and Bankrupting the Nation," joins Mike Green of Logica Capital Advisers to discuss his coverage of the political paralysis that surrounds the issue of pensions in California. He guides Mike on a deep-dive into the gargantuan public employee compensation complex and how that complex bleeds into every other aspect of California government spending. He argues that public employees have forced state and local governments into a corner wherein they cannot maintain their obligations because of the massive burden of pension disbursements and employee compensation. Due to a lack of transparency, pension assumptions based on guesswork, and legal precedent overturning democratic decisions, Greenhut says that the perfect storm that will surely "surprise" Californian politicians has been plain to see for longer than a decade.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

27 Juni 202048min

Senior editor Ash Bennington hosts managing editor Ed Harrison to discuss a day of pain on Wall Street as the coronavirus shows no signs of relenting and the normally cautious Federal Reserve issued an alarming mandate to large-cap banks. Ed and Ash also flesh out their thinking on a potential "double-dip recession" and a second wave of coronavirus. In the intro, Jack Farley looks at COVID-19 data and analyzes the dire results from the Fed's "stress test" of the banking sector. Learn more about your ad choices. Visit podcastchoices.com/adchoices

27 Juni 202031min

Senior editor Ash Bennington and managing editor Ed Harrison break down the latest economic data amid a bullish day on Wall Street. They discuss the rising infections in states like Texas, Arizona, and Florida, and they take a data-driven look at the apparent stalling of the jobs recovery and the reversal of the durable goods slowdown. Ash looks at how peoples’ marginal propensity to spend is affecting the recovery, while Ed explores whether different asset classes are pricing in different recovery “shapes” (equities pricing in a V-shape, high-yield pricing in a Nike swoosh, and investment grade pricing in a “reverse radical”). In the intro, Nick Correa discusses what's happening in Texas and how the virus spread undetected for several weeks before the US locked down. Learn more about your ad choices. Visit podcastchoices.com/adchoices

25 Juni 202046min

Senior editor Ash Bennington joins managing editor Roger Hirst to analyze the anatomy of bubbles, propelled by emotional mania, and how that is relevant to today’s markets. Bennington and Hirst discuss how equity markets appear to be inflated by flows rather than grounded in fundamentals and why the Fed’s balance sheet is the key driver of all of the recent price action. They also explain why time horizons are a critical piece to how traders should form their thesis and shapes the way they look at the market as well. In the intro, Nick Correa shares the IMF’s latest update on its global GDP projections, what’s happening in CDS markets, and the cost of business operations during coronavirus. Learn more about your ad choices. Visit podcastchoices.com/adchoices

24 Juni 202038min