Business

We start off Sunday with the traditional anecdote from One River's Eric Peters

“Humans sell low and buy high,” said Yoda, high in the Rockies. “And in those moments they believe it’s for good reason. It cannot be otherwise.” Snow fell, rain too. Spring on its way.

 

“Bear markets end when every piece of news is seen as an excuse to sell. And bull markets peak when the opposite is true.” Somewhere in the clouds Nasdaq futures were breaching all-time highs, defying the latest Twitter tempest.

 

Submitted by Wolf Richter of WolfStreet

The Last time automakers tried this was in 2009!

In a few days, automakers are going to report their new vehicle deliveries for March. TrueCar, Kelley Blue Book, and LMC Automotive are predicting total vehicle sales slightly above the flat-line compared to March a year ago, though sales were down year-over-year in both January and February.

According to William Dudley, the president of the Federal Reserve bank of New York, we might see the Federal Reserve reducing the size of its balance sheet sooner rather than later. Whilst Dudley seemed to have been hinting at just letting the securities on the balance sheet mature and take the cash out of the market (rather than reinvesting the proceeds), this isn’t the only option on the table.

By the SRSrocco Report,

The U.S. Retirement Market is in BIG TROUBLE as annual benefits paid out are now larger than total contributions.  Actually, the amount of net withdrawals were the highest in history.  When payouts become larger than contributions... then we have the making of the typical PONZI SCHEME.

Authored by David Stockman via Bonner & Partners,

Reagan’s top economic adviser David Stockman explains why Trump’s tax cuts... and his stimulus plan... are dead on arrival.

The mules of Wall Street were back at it again, buying the dips after the overnight whoosh downward in the futures market. Apparently, it will take an actual two-by-four between the eyes to break a habit that has been working for 96 months now since the March 2009 post-crisis bottom.