Business

Tosoh Corporation, the giant Japanese petrochemical conglomerate, collapsed over 20% to below JPY800 shortly after the Japanese open, on volume eleven times average as traders scrambled to find out the catalyst. There was no news of course - just another flash-crash in a world of limited liquidity at the margin (where a small options-arb fund can drive the US equity market for a week).

Share trading was halted for 25 minutes and re-opened unchanged...

Bloomberg notes Tosoh was not available for comment but:

Warning: feelings may get hurt...

Source: The Burning Platform

And how you know you voted for the right candidate...

Source: The Burning Platform

As we previously noted, while speculatrs had been reducing their shorts in Treasury futures, they had added to Eurodollar shorts - pushing their bets on Fed rate hikes to record highs. However, as Bloomberg notes, signals are starting to emerge that traders who built up that heavy short, or hawkish, eurodollar base since the start of 2016 could be starting to throw in the towel on a March Fed rate hike.

Submitted by Lance Roberts via RealInvestmentAdvice.com,

A friend reached out to me today and asked me a simple question:

“If the average person gets a $3000 tax refund every year and then invests the refund into the S&P 500, what would their end result look like?” 

No problem. All we need to do is make a few quick assumptions.

Mnuchin hit the reset button and then asset gatherers spent the day like this...

The Dow topped 20,800 shrugging off any fears from Mnuchin...thanks to a VIX slam...