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The US Consumer Is Drowning His Sorrows At The Bar
Submitted by Jim Quinn via The Burning Platform blog,
Bill Gross' Advice To Traders As Stocks Crash
In a time when the S&P fluctuates with unprecedented velocity and investors need HFT-like reflexes to catch any momentum move, this may be the most practical advice to traders we have heard today.
In an email to Bloomberg, the former (and currently in contention for the title with Jeff Gundlach) bond king Bill Gross says to "stay out of the bathroom" as stock markets enter bear territory.
Some more Gross courtesy of Bloomberg:
The Game Of Chicken Between The Fed & The PBOC Escalates
Submitted by Ben Hunt via Salient Partners' Epsilon Theory blog,
What If There Is No "Fed Put" - Paul Brodsky Thinks Yellen Will Not Bailout Markets This Time
Earlier today, Art Cashin summarized most (very desperate) traders' thoughts when he said that as a result of today's market crash, "the Fed will try anything" to prop up the wealth effect it had so carefully engineered with seven years of central planning in the aftermath of the financial crisis. Perhaps the only question left is "where is the put", or where on the S&P 500 is the Fed's breaking point beyond which Yellen will have no choice but to make a statement, or take action, in support of the market.