Business

There has been no shortage of sellside reactions to last week's Fed rate hike, which have run the gamut from congratulatory as per BofA and Credit Suisse, to the outright critical, as we showed last week in a note from Goldman Sachs, RBC and SocGen, all of whom accused the Fed of either misleading the market, or soon being being forced to double down on its hawkish message as a result of the dramatic easing in financial conditions as a result of a rate hike.

For the first time ever, the market cap of America's "Big Four" banks topped $1 trillion having surged 30% since Donald Trump was elected president. While to some this is cause for celebration, we note that the last time a nation's "big four" banks topped $1 trillion in market cap did not end well...

Via BespokePremium.com,

The previously discussed fears of an imminent "forking" in Bitcoin have led to the biggest drop in Bitcoin between Thursday and Saturday, as investors sold the digital currency on worries about its future, although it managed to regain some footing on Monday, rebounding back over $1,000.  After soaring to an all-time high of $1,350 as recently as March 10 on speculation that regulators could approve the first U.S. bitcoin exchange traded fund the following day (the SEC denied the application but the negative impact was transitory), the digital currency then slipped back.

Authored by Mike Shedlock via MishTalk.com,

According to NADA Used Car Guide, wholesale prices on used vehicles are getting crushed. Let’s take a look at the details.

Used Car Prices Since 1995

Used Car Prices by Type of Vehicle

Used Market Update