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Posts posted by Rusty Shackelford
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The difference in the two columns would imply huge single day moves that can’t possibly average out on the same calendar day over the years.
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5 hours ago, Fudge Nuggets said:
Yeah, your last sentence is what I'm thinking. These ETFs hold corporate debt, but that debt has already been issued and the companies received the money from those bonds already.
Someone buys units of an ETF it's not like the companies are getting any more capital. I guess it props up the overall corporate debt market to keep interest rates in check and provides a synthetic demand for more corporate debt until things get back to normal. Is that the reasoning behind it?
Yes, it’s to support companies future bond issuance. They’re gonna need to borrow a lot more.
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Fed Has Purchased $1.8 Billion of Corporate-Bond ETFs So Far
May 21, 2020, 3:40 PM CDT
Federal Reserve purchases of exchanged-traded funds invested in corporate debt totaled $1.8 billion in the first six days of the program, according to data published Thursday.
The ETF purchases, which are part of an emergency lending program aimed at backstopping corporate debt markets during the coronavirus pandemic, were revealed in the U.S. central bank’s weekly balance sheet update. The data also showed total assets held by the Fed rose to a record $7.04 trillion in the week through May 20.
The Fed began buying ETFs through its so-called Secondary Market Corporate Credit Facility on May 12. Under the program, it plans to make both outright purchases of corporate bonds as well as ETFs invested in the asset class, including potentially some sub-investment grade debt.
The weekly balance sheet data don’t disclose which ETFs the Fed bought, though the central bank has said it will disclose the names of borrowers participating in the program at least once a month.
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25 minutes ago, ChiTownDoc said:
Yeah forgot that one crashed on the runway. What a joke
If you want to make someone pay for this stupidity, you can short SoftBank $SFTBY
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16 minutes ago, ChiTownDoc said:
There's no way that shit is real? Please tell me it's not.
If it is and we didn't all short the hell out of them in the STONKS thread, it's a complete fucking failure.
wework never IPO'd.
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That big ol' building was the textile mill
It fed our kids and it paid our bills
But they turned us out and they closed the doors
We can't make it here anymore
See all those pallets piled up on the loading dock
They're just gonna set there till they rot
Cause there's nothing to ship, nothing to pack
Just busted concrete and rusted tracks
Empty storefronts around the square
There's a needle in the gutter and glass everywhere
You don't come down here 'less you're looking to score
We can't make it here anymore
The bar's still open but man it's slow
The tip jar's light and the register's low
The bartender don't have much to say
The regular crowd gets thinner each day
Some have maxed out all their credit cards
Some are working two jobs and living in cars
Minimum wage won't pay for a roof, won't pay for a drink
If you gotta have proof just try it yourself Mr. CEO
See how far $5.15 an hour will go
Take a part time job at one of your stores
Bet you can't make it here anymore- 1
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When Carter dies it will be the headline story in every backwater around the globe, good enough for me; but no doubt, Trump is an A-list celebrity.
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I negged because it was a complete dumbass take. Every living US president is firmly on the A-list, no exceptions.
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He wants production in 6 months, needs to find a decent factory to upgrade. Wait I know, there’s one in Buffalo NY not being used!
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Airlines stock price “too high imo”
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6 minutes ago, Biff Tannen said:
Yep. It’s the Texas way though.
Not just Texas, NY just wrote down $1 billion for the investment they made in Tesla Gigafactory 2 that hasn’t produced squat and may never.
https://www.wsj.com/articles/new-york-state-writes-down-value-of-tesla-plant-in-buffalo-11573159578
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I’ll hold my excitement until we know how much we taxpayers will be forced to give up in tax incentives/corporate welfare.
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That escalated quickly.
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Anybody still holding airlines?
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Tempted to jump in SRNE for power hour, see if it can get to $9 again.
But nah, I'm actually having a really good stonk day with PRPLW
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The Human Centipede
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I've just been watching today, crazy price action.
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$SRNE anybody?
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Blackrock finally got the green light
Fed Buys $305 Million of ETFs at Launch of Historic Program- 1
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54 minutes ago, bernorange said:
Twitter videos don't play on my browser on this computer. Can you provide an executive summary of the video?
summary would not to it justice, try this link instead:
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That chart is graphing "% change from a year ago". It's a strange metric to highlight IMO. I'd rather see the actual M2 numbers. You can find that here:
https://fred.stlouisfed.org/series/M2
Click on the 1 Y view and behold how the graph jumps right around March 9.
3/9/2020 - $15.6T
4/20/2020 - $17.2T
M2 yoy could be telling us something here, don’t you think?
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Insanity confirmed.
I'd love to see Jay Powell get this treatment from congress, but none of this matters anyway. It will get much worse before it will get better.
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On 5/8/2020 at 2:56 PM, Fudge Nuggets said:
Playing $SLAB for the hundred dollar roll. That's the theory that when a stock breaks $100 it's going to run to $104 - $106. If not it's going back to $80.
Guess which way this fucker probably goes?
Got no $SLAB, $100 or mamacita.
Feeling cry.
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Markets still falling like whoa
in 6th Street Journal
Posted
Maybe the US market is not overpriced at all, when you consider the ratio to Brrrrrrrrrrrrrrrr: