Business

It's a miracle - Dudely speaks, CHNJPY mysteriously spikes higher, , Crude oil soars 8%, and The Dow soars 400 points off its lows. The question is - what now - as Dow runs stops to Monday's cash open...

We are being lied to....The Federal Reserve has been telling us how great the economy is and how we are on track for higher rates as it continues to improve. However the markets are most definitely telling us something different.

The stress that the markets are experiencing has not been an overreaction; it is a perfectly reasonable and considered response to a series of real worries which perhaps one at a time would be manageable but grouped together look formidable.

Via Dana Lyons' Tumblr,

Yet another attempt at rising interest rates has spectacularly fizzled out.

The US Dollar Index is crashing the most since QE1 was unleashed in Q1 2009. Following The Fed's Dudley-isms this morning desperately jawboning some dovishness back into markets, the USD has plunged but the ubiquitous risk-on rally in stocks is very evidently missing as USDJPY soars back above BoJ NIRP levels. Today's plunge is bigger than Dec 2015's ECB fail drop...

As Yen soars almost 3% in the last 24 hours, US Index is plunging against all the majors...

By the most since QE1 was unleashed in Q1 2009...

Downside risks to China’s economy are “relatively big” National Development and Reform Commission Chairman Xu Shaoshi admitted on Wednesday, but that’s not going to stop Beijing from swearing that China is growing at a near 7% clip.