Business

The Top?

Bonds & bullion remain bid post the Ross Rout as Nasdaq sinks...

Authord by Kevin Muir via The Macro Tourist,

I am aware of all the doomsday Yen hyper-inflationary predictions due to their soaring debt-to-GDP ratio. And these Japanese bears very well might prove correct… In the long run.

Last week, rating agency DBRS raised a red flag when it calculated that in the past decade average US wages have risen by only 5.7%, while consumer debt over the same period rose 60% more, or 9.3%. However, while the US household's reliance on debt to fill in the income gaps is hardly news, on Monday JPMorgan found another, even more concerning debt inflection point: household debt, fast as it may be rising, is about to be eclipsed for the first time ever by the even faster rising federal government debt.

Microsoft is down almost 4% - the biggest drop since June 2016 - filling the gap from earnigs as the entire tech space is coming under serious pressure in this low-high tax rotation.

No, there is no MSFT-specific news or catalyst...

FANGs, Semis, and the broad tech sector are in trouble...

As the low-to-high tax company rotation continues...

Earlier we joked that today's rally was losing steam, and it "needs a North Korean ICBM launch to find new strength."

This rally needs a North Korean ICBM launch to find new strength

— zerohedge (@zerohedge) December 4, 2017