Hello and welcome to a very special midweek episode of Slate Money COVID. This is a Wednesday

short episode just to try and stay on top of all of the crazy.

I'm Felix Salmon of Axios. I'm here with Emily Peck of Huff Post. Hello. I'm here with

Anna Shamansky of Breaking Views. Hello. We're going to talk about fiscal policy. We're going

to talk about monetary policy. We're going to talk about helicopter drops. We're going to talk about monetary policy.

We're going to talk about helicopter drops. We're going to talk about bailouts, all of that in a single

segment. And then back for our regular full-length episode on Saturday. Okay, so this is going to be a

super fast turnaround thing. So we can actually actually for the first time ever on Slate Money

talk about oh my god what are the markets doing today and the today means today

um as of today which is Wednesday um the stonks are down the bonds are down everything is down

um which means this is something which we've been seeing for the past few sessions, Anna,

that like we are back to positive correlations between stocks and bonds.

Like when the stocks go down, the bonds also go down.

It's not like that flight to quality that we used to see at the beginning of this crisis

when the stocks would go down

and the bonds would go up. Right. Partly what we're seeing is that people really want cash.

Like essentially right now, people are selling off anything to get cash. And one of the things

you often see in a crisis is that it's not only like the dodgier things that sell off. It's actually

the higher quality things because if you have to meet a margin call, you're going to sell

whatever you can that can get a good price. That's what often you'll see like gold will sell

off. You know, but like, why is gold selling off? In theory, that should be doing well. So

that's obviously one thing you're seeing. So let me let me stop you

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