Daily Briefing – June 26, 2020

Published on
June 26th, 2020
Duration
30 minutes


Daily Briefing – June 26, 2020

Daily Briefing ·
Featuring Jack Farley, Ash Bennington, and Ed Harrison

Published on: June 26th, 2020 • Duration: 30 minutes

Senior editor Ash Bennington hosts managing editor Ed Harrison to discuss a day of pain on Wall Street as the coronavirus shows no signs of relenting and the normally cautious Federal Reserve issued an alarming mandate to large-cap banks. Ed and Ash also flesh out their thinking on a potential "double-dip recession" and a second wave of coronavirus. In the intro, Jack Farley looks at COVID-19 data and analyzes the dire results from the Fed's "stress test" of the banking sector.

Comments

  • VL
    Victor L.
    29 June 2020 @ 16:34
    transcript please
  • DH
    Daniel H.
    27 June 2020 @ 02:49
    Hey guys, its normal for cases to go up, herd immunity and all. Since economy reopened, young people hanging out, normal for avg age to decrease, not really concerning . what would be concerning is if the average age of icu admissions is decreasing. If the Age of people in critical Care is decreasing. Something a bit more specific. The media will use cases going up, and make it sound really bad. It may be but it also may not be. I think cueing in to more specific details will give us a clearer picture
    • PC
      Peter C.
      29 June 2020 @ 09:12
      We will see if this mass experiment with young people keeps the virus deaths in check. While a much smaller percentage of them ends up in ICU beds, they do keep the beds occupied for a much longer period (simply because most survive but need many weeks to recover). Also, in the age group of 20-40 you will find most super spreaders. They are more asymptomatic and mostly have mild cases, so they don't change behavior if they are infected and as such are ideal agents for the virus. At some point, the infections will spill over to their parents and elderly people because they bring it to their own circle of family, colleagues and friends, many without knowing it. I hope it can be managed but some US states are really in a position to get a tripple whammy: a sudden surge in deaths due to a 2-3 week delay between a case surge and reported deaths, an overflow to elderly which accelerates the deaths and a decrease in hospital care and as such deaths due to the explosive situation. It is not just the number of ICU beds that count. You also have the stress on the medical staff of the hospitals.
  • TH
    Tal H.
    29 June 2020 @ 05:16
    I am so pissed. RV sent me the promo code for crypto gathering 3 days ago, over the weekend. Now I can't use it since it expired yesterday. I'm going to miss the event because I didn't have enough time to register. So annoying.
    • TH
      Tal H.
      29 June 2020 @ 05:26
      Scratch that, they gave me a new promo! :D
    • MF
      Michael F.
      29 June 2020 @ 05:58
      Same thing here, wasn't on my email much over the weekend :( I tried asking for a possible extension through the bot, but I got nothing :(
  • AH
    Andrew H.
    28 June 2020 @ 04:08
    Ed has had some serious conviction about this second wave and its resulting effort on the market. He looks to be spot on.
  • TG
    Terry G.
    28 June 2020 @ 02:52
    Minus the constant plug and balls carrying about credit report, otherwise a good summary!
  • KD
    Krys D.
    28 June 2020 @ 00:57
    Great job guys thank you.
  • JL
    John L.
    27 June 2020 @ 23:36
    Great show as always, guys. Nice work, Jack. The comments fro the Fed are highly compelling and ominous.
  • MT
    Mark T.
    26 June 2020 @ 23:37
    I could get into soccer if there were no ties allowed. Game keeps going till someone wins.
    • GV
      Gabriel V.
      27 June 2020 @ 21:30
      Cup tournaments, like the World Cup and FA Cup, have that sort of format
  • DB
    Donna B.
    27 June 2020 @ 19:58
    When I heard Raoul was not joining RVDB today, I thought I would be disappointed. Wrong! This was outstanding from beginning to end. Deep analysis on headline news. Nice job to all.
  • HS
    Hui S.
    27 June 2020 @ 00:57
    Nice intro Jack.
    • TZ
      Tibor Z.
      27 June 2020 @ 19:22
      That's the best part of the video!
  • TZ
    Tibor Z.
    27 June 2020 @ 19:21
    That's exactly what I wanna see! Graphs and charts and analyzing the data! Not just talks! Finally a great briefing!
  • JL
    James L.
    27 June 2020 @ 19:18
    Your BEST Briefing and Jack has a super update!
  • LW
    Lee W.
    27 June 2020 @ 16:19
    Ed! A Chelsea fan! YES!!!
  • EO
    Eric O.
    27 June 2020 @ 15:23
    Jack, a very good good review of the news headlines, FED & banking. I think adding a spot for links to the stories that are talked about under the Daily Briefing heading would be helpful.
  • AD
    Antonio D.
    27 June 2020 @ 12:44
    Great commentary incorporating the Fed views from February and June, and using them as a means to understand future possible actions.
  • TW
    Thomas W.
    27 June 2020 @ 10:22
    Looks like Ash got a new microphone. If you use an AirPod as an earpiece and record the mic audio on your iPhone then lay it over in your edit you will get infinitely better quality audio. If you do a big clap before you start you will get the sync really quick.
  • SS
    S S.
    27 June 2020 @ 00:07
    If the market goes down again, The Fed will act even faster and stronger than before. Fiscal stimulus will be more aggressive. The Fed might get the law changed to buy equities. The dip should be bought aggressively IMO. The Fed won't wait until we retest the lows of 2300 to act. S&P to 4000 after the Fed intervenes like its never intervened before. I'm not saying its right, but it has a high probability of happening.
    • BC
      Brandon C.
      27 June 2020 @ 00:33
      go on, tell me more. My question is how high can the fed run the balance sheet until it becomes damaging?
    • AB
      Alastair B.
      27 June 2020 @ 10:12
      2016 levels, probably. Buckle up
  • MC
    Michael C.
    27 June 2020 @ 08:54
    Ash, next DB you tell us all that you have watched Trading Places. This movie is the gift that keeps on giving.
  • TE
    Tito E.
    27 June 2020 @ 08:46
    Ash, you need to learn to channel Billy Rae Valentine!
  • ME
    Mark E.
    27 June 2020 @ 07:46
    Haha Ash it's Ladbrokes, not Ladsbroke, though I think the latter name is probably more appropriate for a betting company!
    • AB
      Ash B. | Real Vision
      27 June 2020 @ 08:05
      Oh, man. I just keep goofing this up. Maybe we should do a Real Vision mini series where Professor Ed & Professor Rodger put me through a crash course on British league football?
  • IP
    IDA P.
    27 June 2020 @ 07:55
    this was excellent thanks for commenting the stress tests
  • SS
    Shanthi S.
    27 June 2020 @ 05:41
    So sorry for the loss of your friend Ed.
  • VK
    Vaclav K.
    27 June 2020 @ 05:12
    Ash, turn the tables on Ed next time! Funny!
  • SS
    Steven S.
    27 June 2020 @ 04:12
    Friggin' hilarious with the 'looking good Billy Ray' intro. I think I'd watch Ed and Ash daily just for the witty exchanges and entertainment! There's always a heartwarming element to these discussions, as it is with Julian and Raoul. Thanks, guys.
    • SS
      Steven S.
      27 June 2020 @ 04:18
      Sorry about your friend, Ed. You and everyone should know that the scientific community is working tirelessly to improve COVID-19 healthcare and understand the biology of SARS-Cov-2 infection. We are making progress on this incredibly complex and impactful problem.
  • AB
    Avik B.
    27 June 2020 @ 03:22
    Where do you read the credit writedown report?
  • PS
    Paul S.
    27 June 2020 @ 01:14
    Hi Jack F. Do you create transcripts with links to the reports that you and the other analysts refer to? Or maybe this is above my membership grade (Essential). For anybody as sad as me, here's the link to the Fed report that you mentioned in todays briefing: https://www.federalreserve.gov/publications/files/2020-dfast-results-20200625.pdf
  • GR
    Gabriel R.
    27 June 2020 @ 01:03
    Ed- thanks for trying to educate Ash on soccer. Ash- appreciate you doing a little research into Scottish soccer. I work in the soccer industry and when things get better will give you both ticket to a game in your markets (DC united and N.Y. City fc or Redbulls), as we have season tickets to all the MLS teams. Appreciate all that you guys do!
  • JM
    Jimmy M.
    27 June 2020 @ 00:55
    Why do we have to save the markets via the fed with QE? This psychology of thinking is the problem. Recessions are healthy, the fed is creating a global depression that we have never seen Before due to this money printing experiment. What happened to business financial cycles? Ooh yea... we don’t have those anymore.. just buy the dip!
  • RL
    Robert L.
    27 June 2020 @ 00:07
    Ash, a little homework for you this weekend. Watch Trading Places. It’s a classic. Enjoy
  • DT
    David T.
    26 June 2020 @ 23:52
    Some large scale war is unavoidable within next 5 years. There is no other way out of the different crises reaching singularity point. Bing Bang is coming.
    • DT
      David T.
      26 June 2020 @ 23:55
      Why this chat doesn’t have editing option or at least delete option? :)
  • WM
    William M.
    26 June 2020 @ 23:28
    stocks down....oh no....time for more fed stimulus