The Newsletter

The Transcript 08.31.20

August 31, 2020

Succinct Summary: The last week of summer before labor day is usually one of the slowest weeks of the year but this year it feels like things are moving at an incredibly fast pace. Companies are looking to the future and beginning to permanently rationalize their cost structure. Business travel budgets are likely to be cut for a long time. Temporary layoffs are also becoming permanent. In the near term economic activity is still very strong though. We’re seeing a terrific end of the summer. And the Fed is hoping it stays that way in the fall.

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The Newsletter

The Transcript 05.11.20

By Mokaya on

May 11, 2020

- The Newsletter

Succinct Summary: Companies are reporting signs of improvement in the economy. But the rebound is coming off such a low base that these numbers would still be considered very bad in any other environment. The duration of this rebound will depend heavily on whether or not there’s a second wave of infections. Still, even without the virus it probably will take the economy a long time to recover from such a severe shock.

On an industry basis: private capital markets are searching for price levels; consumers are dreaming of the future; tech is chugging along; and the industrial/energy economy is feeling immense pain.