Things are getting worserer...
USDJPY just snapped below its 100-day moving average and broke below 111.00, this seemed to accelerate losses with The Dow down over 300 points, and VIX at 14.00
Banks are leading the way down...
As one trader questioned "where are the dip-buyers?"
Again and again we were told that this rally was all about fun-durr-mentals and that anything Trump did was gravy and not priced into markets... so how do you explain the biggest plunge in European stocks since September today... on zero fundamental catalysts?
And banks were battered...
Total debt held by US household reached $12.73 trillion in the first quarter of 2017, finally surpassing its $12.68 trillion peak reached during the recession in 2008 according to the NY Fed's latest quarterly report on household debt. This marked a$479 billion increase from a year ago, and up $149 billion from Q4 2016 after 11 consecutive quarters of growth since the deleveraging period immediately following the Great Recession.
the quick and durty breakdown:
Authored by Steve St.Angelo via SRSroccoReport.com,
While many precious metals investors realize the massive amount of paper trading leverage taking place in the gold market, they should see what is going on in the silver market. In a previous article, I provided data showing that an amazing $9.8 trillion of notional gold paper trading took place on the world’s exchanges in 2016 versus $42 billion in actual physical gold investment. This was a paper to physical ratio of 233 to 1.
We warned last week that behind the scenes, professionals were increasingly speculating on a delay to the "baked in the cake" June rate hike.
The sudden surge in interest in Eurodollar calls (vs puts) suggests more than just a few prop bets are being placed on the fact that The Fed does not hike rates in June.
Well the last few days have seen that started to be reflected in the primary markets... as US macro data collapses (and Trumptopia tumbles).