Sell the news... again...
Nasdaq is now red on the week again...
VIX crashed to 8.90 as cash markets opened...
30Y yields back at the Nov 1st FOMC level...
Some are suggesting the extremely rapid long-squeeze in Treasuries is triggering Risk-Parity unwinds...
Now that it is abundantly clear that for a stock to explode higher, all that is necessary - and sufficient - is a press release mentioning the company's name and throwing in the word "blockchain" in the same sentence (see Riot Blockchain and LongFin Corp), other public microcaps have decided that if that's all it takes, then by all means they will gladly take investors' money.
Authored by David Stockman via Contra Corner blog,
Since last November 8th the Russell 2000 has risen by 30% and the net Federal debt has expanded by an astounding $1.0 trillion dollars.
What Peak Gold, Interest Rates And Current Geopolitical Tensions Mean For Gold in 2018
While the Riksbank left its repo rate unchanged at -0.5%, as expected, in its decision this morning, far more interesting was the Riksbank's decision to formally end making new bond purchases, i.e., QE, after almost three years. However, in order to ensure a smooth transition, the Riksbank said the end of QE would take place in the most dovish way possible and the central bank would continue reinvesting maturing bonds and coupons, and also announced that it will bring forward some of the large 2019 redemptions, which it will reinvet in 2018.