AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min chapter
The Recession Paradox | Alfonso Peccatiello
Forward Guidance
How to Evaluate the Credit Impulse and S&P 500 Forward Earnings
The reason why changes in bank reserves, changes in liquidity, do not correlate really well and predict well the variability of changes in the S&P 500 returns is very simple. Banks don't have appetite or mandate to buy equities in their high quality liquid books. In some jurisdiction, they do, but only under extremely rigorous assumption and only for a super small percentage of their liquidity buffer.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode