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Financial Meltdown: The Trades Of March 2020 | Alex Gurevich
Forward Guidance
The Black Hole in Financial Markets
In the world without leverage that safety can be elusive. The securities that should actually be most beneficial most free security is like treasury bonds especially inflation index treasury bonds which I pointed out. All of a sudden those securities crushed in the middle of the month because there was no cash to borrow. It has nothing to do with any kind of rational like going back to people who like to think about efficient market theory or even behavioral finance. They both assume that people voluntary enter a transactional voluntary basis whatever their reasons are, but that's not what drives financial marketsFinancial markets are driven not by people buying and selling because they want to,. Because they have to, it has nothing toDo with either the state
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