The Weekly Fix: What Is Moral Hazard If Defaults Are Better?
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a virtual news conference seen on a laptop computer in Arlington, Virginia, U.S., on Wednesday, April 29, 2020.
Photographer: Bloomberg/BloombergWelcome to the Weekly Fix, the newsletter that's looking at income chains and wondering where the recovery comes from. --Luke Kawa, Cross-Asset Reporter
April has been a monumentally exciting month in financial markets. For markets that aren’t Treasuries, that is.