It is the 24th of January 2020

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Global Health Officials On High Alert As Wuhan Virus Makes US Landfall

Global Health Officials On High Alert As Wuhan Virus Makes US Landfall

Update (1600ET): Beijing, Shanghai, Tianjin, Zhejiang, Henan, Chongqing, Hong Kong, Bangkok, Seoul, Tokyo, Brisbane, Taipei - and now Washington State.

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McConnell Blinks, Grants Impeachment Trial Rule Changes Sought By Democrats, GOP Moderates

McConnell Blinks, Grants Impeachment Trial Rule Changes Sought By Democrats, GOP Moderates

Senate Majority Leader Mitch McConnell (R-KY) allowed a hand-written change to the ground rules for President Trump's impeachment trial, granting House Impeachment managers and Trump's defense team an additional day to make their cases.

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Global Stocks Sink On Wuhan Worries, Bonds Bid Back To 2020 Highs

Global Stocks Sink On Wuhan Worries, Bonds Bid Back To 2020 Highs

"My name is Coronavirus... and I remember everything"

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Why Einhorn Hates Netflix More Than Ever, And Remains Long Gold

Why Einhorn Hates Netflix More Than Ever, And Remains Long Gold

As mentioned earlier, instead of a lengthy discussion of macro conditions and how his investment strategy is changing in 2020 as a result of the Fed's latest intervention in capital markets, Greenlight's David Einhorn presented an extensive recap of his top 10 largest positions on both the long and short side. While readers can read the full list in the pdf below, we focus on three of these - Einhorn's continuing feud with Netflix, which has been a staple member of Einhorn's short basket and to which Einhorn added even more shorts during the late-2019 bounce, as well as his view on corporate credit and finally, his ongoing infatuation with gold (which was reinforced earlier today with Ray Dalio's latest Davos comments).

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Kudlow: Fed's T-Bill Purchases Are "Basically" QE

Kudlow: Fed's T-Bill Purchases Are "Basically" QE

Back in October, when the Fed restarted permanent open market operations in the form of $60BN in T-Bills purchases each month, Powell scrambled to convince the market that his panicked effort to inject reserves into banks (such as JPMorgan which single-handedly triggered the repo crisis) so that trillions in levered hedge fund pair trades did not collapse on themselves once their repo funding was pulled, he said "growth of our balance sheet for reserve management purposes should in no way be confused with the large-scale asset purchase programs that we deployed after the financial crisis" and just to make sure there was no confusion, added "This is not QE. In no sense is this QE."

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