Thread by @CantillonCH

I prepared a few notes for the guys @SquawkBoxEurope

Happy to share them here with you:-

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Even before #coronvairus struck, there were signs taht the bloom was off the rose:-
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Exposures were high going in and - in some cases - have only gone up amid the turmoil:-
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#centralbanks have encouraged us to dance, in hobnailed boots, carrying a knapsack full of rocks through an ever denser and more extensive minefield. Last month our luck ran out:-
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So, the guys who mugged us around the last street corner are now offering to help us find our stolen wallets. As every the answer to every problem nail is a bigger monetary hammer:-
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"The dollar is our currency, but it's your problem"

The #Fed may have a good deal more printing to do on that account:-
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So, is the #equity bottom in? Perhaps. Since the panic liquidation ended at a near perfect chart-point - the 2016 lows, start of the #Trump Rally.
But a lot of bad news will have to be digested: enough, maybe to have rallies sold, not BTFD.
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Similarly, as discussd with @steve_sedgwick, those shorting #crudeoil down here have just had a little wake-up call, but fundamentals ARE bad and bankruptcy IS coming.
Could #WTI repeat the scale of the last two dumps?
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If that has whetted your appetite, please tweet for further discussion.

Meantime, have a good one, folks!
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