Yesterday, we reported that at least one prominent money manager, Geneva Swiss Bank, had called "time" on the bear market rally, and after scooping up a 7% profit following the post-February 11 short squeeze, cashed out.
This followed another post of ours from yesterday morning, in which we showed quite vividly that while stocks are surging on the latest algo-driven stop hunt and CTA squeeze, bonds could care less.
Usually, when TBTFs get caught doing something either illegal or just plain stupid, no actual humans are penalized.
What typically happens is there’s a yearslong investigation during which the handful of regulators and politicians whose palms weren’t thoroughly greased demand that the regulators and politicians whose pockets were properly lined do something to show the public that the government isn’t entirely beholden to the cabal of bankers that effectively run the world.
Bond yields have plunged, stock gains have been erased, and Gold and VIX is on the rise again as Al-Naimi dashes the hopes once again that Oil has found a bottom...
Oil is tumbling...
And that means US equities are falling...
And the earlier Treasury panic-selling has been entirely erased...
The chocolate giant Mars has recalled Snickers and Mars bars in 55 countries. The move came after a piece of plastic found in one bar was traced back to its Dutch factory. The company initially issued a recall in Germany, but it is believed to have spread to the UK, France, Belgium, Italy and Spain. The Mirror reports: Roel Govers, spokesman for Mars in the Netherlands told the AP News Agency the notice has been issued in 55 countries. Other products affected include Milky Way Minis and Miniatures and certain kinds of boxes of Celebrations.
Submitted by David Stockman via Contra Corner blog,