Lots of Liquidity Left

(1) A mad dash through recent events. (2) March’s mad dash for cash left plenty still available, even now. (3) Bond yields near record lows, while liquid assets remain near record highs. (4) Central banks continue pumping liquidity. (5) Government social benefits boosted personal saving, which is still boosting consumer spending. (6) Comparative MAMUs. (7) July’s consumer-spending report shows pandemic’s winners and losers. (8) Housing-related industries are clear winners. (9) Used car sales getting a lift from new suburbanites. (10) Fed likely to continue to undershoot inflation target for the foreseeable future.