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Quote of the Day
"This is not to say that things won’t be different this time. Some things will undoubtedly change. But the one prediction I am confident in making right now is that fewer things will change than we currently expect."
(Joachim Klement)
Markets
- You can't identify market states in the moment, you have leave that to history. (thereformedbroker.com)
- Under more normal circumstances, mortgage rates should be substantially lower. (calculatedriskblog.com)
Finance
- Secondary offerings have surged. (sentimentrader.com)
- Why downturns are the best time to do M&A. (hbr.org)
Companies
- 25 Apple ($AAPL) Stores are reopening this week - what has changed. (appleinsider.com)
- Uber ($UBER) is laying off 3,000 workers and closing offices. (wsj.com)
- Wix ($WIX) has been a big winner in the pandemic as people rush to get a presence online. (axios.com)
- Microsoft ($MSFT) has changed its tune about open source software. (theverge.com)
Credit
- Why the pandemic is likely to create a class of PE-backed 'zombie companies.' (blogs.cfainstitute.org)
- How distress is showing up in airline credits. (koyfin.com)
Funds
Covid-19
- Moderna ($MRNA) has reported some early positive Phase I results for its mRNA coronavirus vaccine. (statnews.com)
- The FDA has given emergency approval to a home coronavirus testing kit from Everlywell. (nytimes.com)
- Research shows hydroxychloroquine is ineffective in treating Covid-19 and has a risk of side effects. (sciencedaily.com)
- Why testing numbers from the states and the CDC markedly differ. (theatlantic.com)
Global
Economy
- The NAHB shows a bounce in homebuilder sentiment for May. (calculatedriskblog.com)
- Q2 GDP estimates keep getting ratcheted down. (ritholtz.com)
- The pandemic was perfectly designed to increase income inequality. (awealthofcommonsense.com)
- Checking in on six real-time, high frequency economic indicators. (calculatedriskblog.com)
- Mark Cuban on how the federal government can support the hiring of people to do testing and tracing. (axios.com)
Earlier on Abnormal Returns
- Adviser links: the major challenge. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- What everyone else clicked on last week on the site. (abnormalreturns.com)
