Title : Are The Next 45 Days The ‘Most Critical Period In U.S. Financial History’?
link : Are The Next 45 Days The ‘Most Critical Period In U.S. Financial History’?
Are The Next 45 Days The ‘Most Critical Period In U.S. Financial History’?
Market Watch: The next 45 days are the ‘most critical period in U.S. financial history,’ says stock-market expert who profited in 1987 and 2008 crisesAfter recovering a chunk of the losses racked up during the worst of the coronavirus-induced selloff last month, the stock market finds itself at a crucial inflection point, writes Alan B. Lancz.
“The next 45 days may just become the most critical period in U.S. financial history,” he wrote in a newsletter published Wednesday. “While on average we may face a bear market every 10 years, this one is like no other,” he said.
The contrarian money manager, who is a disciple of famed investor Sir John Templeton, said that the timing and execution of the reawakening of the U.S. economy from its dormancy could be one of the biggest factors in determining how the market recovers from COVID-19, which has forced swaths of businesses to shut down to help stem the spread of the deadly contagion that has infected more than 2 million people and claimed 137,000 lives, according to data aggregated by Johns Hopkins University as of Wednesday evening.
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WNU Editor: We are in uncharted territory right now, and no one knows what will happen next. Here is just one example on how upside-down the markets and prices for commodities right now. Last night the price for a Canadian barrel of western crude hit -$0.01/barrel (see tweet below).
Western Canadian Select oil is now trading at negative prices.👇— Jason Kenney (@jkenney) April 20, 2020
Killing & delaying pipelines landlocked us.#Covid19 collapsed demand.
The Russian-Saudi price war surged supply, filling up inventories.
The future of hundreds of thousands of Canadian jobs is at stake. pic.twitter.com/n2pGHsh30E
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