Back on October 17, 2014, the market was in free fall mode, when out of the blue during an interview with Bloomberg TV, one of the Fed's alleged biggest hawks hinted that the Fed could do QE4 if the rout continued. The rest, as they say was history, and the Dow soared 400 points higher to close at 16,350....
... practically exactly where the Dow Jones is right now, 14 months later.
Yesterday we reported something disturbing: a small regional bank, BOK Financial, announced that it had underestimated its exposure to energy loans, or rather loan, issued by just one company, and as a result its previously forecasted provision for credit losses of $3.5 million to $8.5 million would be insufficient, and due to the unexpected loan impairment it would have to take a dramatic $22.5 million in credit losses." As a result BOKF stock crashed and is now trading at levels not seen since 2010.
Thanks to the following deep thought:
... Oil prices are surging and that means buying panics unleashed in stocks...
This oil move has ripped The Dow 300 points higher:
Even as the Fed is folding, and exposing a lack of credibility and crushing the growth hope meme:
Submitted by Nick Cunningham via OilPrice.com,
Low crude oil prices since the second half of 2014 have created a boon for consumers as the cost to fill up at the pump has plunged. The extra cash in the pockets of millions of motorists is often likened to an unexpected tax cut, which could help stimulate the economy.
Perhaps more than anyone else, we’ve been keen on documenting the rise of subprime auto loans.
Over the course of the last 12 months, data from Experian clearly shows that underwriting standards are falling in the industry as competition for a shrinking pool of eligible borrowers heats up.