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Show Notes
Michael Howell of Crossborder Capital and Andy Constan of Damped Spring Advisors join Forward Guidance to discuss and debate all things liquidity.
Today’s interview is brought to you by YCharts. For a free trial and 15% discount on new memberships, visit https://go.ycharts.com/forward-guidanceFollow Michael Howell on Twitter https://twitter.com/crossbordercap
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Follow Andy Constan on Twitter https://twitter.com/dampedspring
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Follow Blockworks on Twitter https://twitter.com/Blockworks_More info on Damped Spring Advisors: https://dampedspring.com/
More info on Crossborder Capital: http://www.crossbordercapital.com/
Michael Howell’s Substack: https://capitalwars.substack.com/
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Timecodes:
(00:00) // Defining Global Liquidity
(04:07) // Only Looking At Federal Reserve Liquidity Is A Big, Big Mistake
(11:23) // Why Has Michael Howell's Global Liquidity Index (GLI) Been Rising?
(18:49) // The U.S. Treasury's Issuance Composition Has Been A Huge Factor For Liquidity
(31:36) // Is This "Shadow Quantitative Easing (QE)"?
(44:06) // Inverted Yield Curve & Repo
(53:19) // Michael Howell's Bull Case For Stocks
(59:10) // The "Short All Assets" Trade
(01:07:43) // Will The Fed Return To Outright Quantitative Easing (QE)?
(01:11:41) // Is Liquidity Going To Expand? Yes, It Is - Michael Howell
(01:17:44) // Final Points On Term Premia, Fiscal Arithmatic, And The Dollar
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.