The Green Line

A monthly chart, plus a short commentary
Scrabbling around for income
July 2020: Coronavirus shutdowns have triggered the worst recession since the Great Depression. Like a depth charge dropped against a submarine, we’ve felt the shockwave but have yet to see how much debris floats to the surface. Ratings agencies suggest the damage is serious and that default rates will soar.
This time really is different
June 2020: The sheer scale of the economic heart attack caused by COVID-19 can be difficult to grasp, especially when the sun is shining and lockdowns are starting to ease. But this month’s chart of job losses and recoveries in US recessions since the Second World War brings home the enormity of the damage.
When just in time becomes just in case
May 2020: Balance sheets show the trade-off between resilience and optimisation
COVID-19 and the dawn of a new market era
April 2020: The era of monetary dominance is over. Helicopter money signals investment regime changes ahead.
Will COVID-19 cause a recession?
March 2020: February saw concerns over coronavirus truly go global. Whilst public safety and containment of the outbreak must clearly be the primary concern, for financial markets the key question is will the virus cause a recession?
Gravity: suspended until further notice
February 2020: What on earth is going on? Gravity is a universal constant. But it turns out that zero interest rates can suspend it – in financial markets, at least.
The fog of war is lifting from the UK
January 2020: It’s morning in Great Britain – could we be at the beginning of a mini-boom?
Wise men from the East
December 2019: Japanese companies' balance sheets bear gifts western investors can only dream of...
How Corporate America stole its own future
November 2019: US companies are paying shareholders more than they can afford
Has We killed the unicorns?
October 2019: WeWork’s ill-fated IPO is the tip of an iceberg
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