Business

Not long ago we pointed out that the second tech bubble had officially burst, and the extent of the layoffs is increasingly significant.

It's taken a few months, but the economic slowdown and downshift in the once bustling Silicon Valley jobs front has now worked its way into the real estate market. As Bloomberg reports, the most expensive U.S. housing market is now seeing a pullback by the wealthiest home buyers after a four-year real estate boom...

Over seven years since we first said it, and nearly eight years since the Fed unleashed ZIRP, Bill Gross seems to finally find a trace of logic in what the Fed is doing.

Gross: So the Fed sort of gets it. Low rates destroy business models and sap economic potential.

— Janus Capital (@JanusCapital) May 18, 2016

Surprise! June rate hike odds have tripled - but remain at just 24% for now...

Pre-Election rate hike odds now at record highs...

With the USD Index surging, Gold, stocks, and the short-end of the bond curve are fading fast...

But the 30Y is outperforming dramatically (policy error?)

Financials are rallying hopefully but traders are missing the fact that it's the spread not the level that matters and the curve is flattening...

S&P is back in negative territory for 2016 to March lows...

The supposedly dovish April FOMC statement - as global fears fell and turned domestically - has left bonds and bullion the winners and stocks the losers as investors lose faith in The Fed's forecast and economic promises. Today's FOMC meeting minutes suggest an increasingly cornered Fed will pull the trigger iun June with member disagreements brewing...

Once again the fears over China's slowdown, global growth faltering, and the fallacy of US analyst hockey sticks are biting at the ankles of fiction-peddling talking heads. With copper plunging and the USD Index resurgent, as Bloomberg's Mark Cudmore warns, the risk-aversion sparked by China in January is on course for an imminent replay...

Deja vu all over again...

With the last few weeks really diverging...