{"id":53159,"date":"2020-05-11T09:13:14","date_gmt":"2020-05-11T14:13:14","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53159"},"modified":"2020-05-11T09:15:10","modified_gmt":"2020-05-11T14:15:10","slug":"53159","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53159","title":{"rendered":"Blain’s Morning Porridge – May 11th 2020 – Bond Triggers Tumble"},"content":{"rendered":"\n

Blain’s Morning Porridge – May 11th 2020 – Bond Triggers Tumble<\/a><\/h3>\n\n\n\n
\"\"\/<\/figure>\n\n\n\n

\u201cWhen this baby hits 88 miles per hour, you\u2019re going to see some serious\u2026. \u201c<\/em><\/p>\n\n\n\n

After last night\u2019s Boris announcement on not reopening the economy, it clearly doesn\u2019t need any further explanation.. (US Readers \u2013 complex <\/em>sarcasm alert<\/strong>.)<\/p>\n\n\n\n

Over the course of the lockdown, I\u2019ve been brushing up on Quantum Entanglement Theory and almost accidently I\u2019ve created a time machine. I\u2019m not quite sure how it works \u2013 so I reckon that qualifies me a job in Whitehall \u2013 but I was able to download The Morning Porridge from May 2021\u2026.. <\/strong><\/p>\n\n\n\n

*********************<\/p>\n\n\n\n

Blain\u2019s Morning Porridge \u2013 May 2021<\/strong><\/p>\n\n\n\n

\u201cSell in May \u2013 oh don\u2019t bother \u2013 you are already away\u2026\u201d <\/em><\/p>\n\n\n\n

It\u2019s just over a year since 20mm Americans lost their jobs in a single month and United Airline\u2019s failed $2 bln bond issue in the first week of May 2020 became the unstable pebble that triggered the most devasting landslide in financial market history. <\/p>\n\n\n\n

All around the globe, bond investors woke up to their doubts on just how much government QE programmes, miniscule yields, and the value of their collateral of unproductive obsolete economic assets could be. Equity holders caught the whiff of panic \u2013 figuring out rising P\/E\u2019s in a crashing global economy meant nothing \u2013 even if central banks were promising to intervene. Sovereign debt buyers went on immediate strike, citing concerns on debasement, inflation, and the implausible promises being made. <\/p>\n\n\n\n

The result was the most precipitious tumble in history \u2013 everyone tried to exit the markets and discovered the truth: \u201cthere are many ways to buy, but only one exit marked sell.\u201d <\/strong><\/em><\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Blain’s Morning Porridge – May 11th 2020 – Bond Triggers Tumble \u201cWhen this baby hits 88 miles per hour, you\u2019re going to see some serious\u2026. \u201c After last night\u2019s Boris announcement on not reopening the economy, it clearly doesn\u2019t need any further explanation.. (US Readers \u2013 complex sarcasm alert.) Over the course of the lockdown, I\u2019ve been […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[23143,88,124,661,741,820,2080],"class_list":["post-53159","post","type-post","status-publish","format-standard","hentry","category-economics","tag-blains-morning-porridge","tag-bonds","tag-central-banks","tag-qe","tag-sovereign-debt","tag-uk","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53159"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53159\/revisions"}],"predecessor-version":[{"id":53162,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53159\/revisions\/53162"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}