Spot The Difference
US equity markets have rebounded aggressively off their opening plunge on the heels of a sudden magical bid...
Can you guess where from...
Now that Europe is closed - what happens next?
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Business
The Moment Gary Cohn Realized His Entire Economic Policy Is A Disaster
Ever since 2012 (see "How The Fed's Visible Hand Is Forcing Corporate Cash Mismanagement") we have warned that as a result of the Fed's flawed monetary policy and record low rates, corporations have been incentivized not to invest in growth and allocate funds to capital spending (the result has been an unprecedented decline in capex), but to engage in the quickest, and most effective - if only in the short run - shareholder friendly actions possible, namely stock buybacks.
Credit Crashes, VIX Tops 14 As Stocks Open Lower For 7th Straight Day
Something changed...
Futures were weaker overnight but dumped at the cash open...
As the collapse in HY credit accelerated... worst day for HYG in 3 months
HYG is now negative year-to-date...
With spreads crashing back abopve 400bps...
USDJPY was unable to save stocks and VIX is now topping 14...
VIX is starting to catch up to credit...
Is This Why Productivity Has Tanked And Wealth Inequality Has Soared?
Authored by Charles Hugh Smith via OfTwoMinds blog,
Needless but highly profitable forced-upgrades are the bread and butter of the tech industry.
Treasury Curve Collapses To Fresh 10-Year Lows After Data Dump
Hot CPI, disappointing retail sales, slumping surveys, and a drop in real wages... is it any wonder the yield curve just flushed another 3bps to a 75bps handle - the flattest 5s30s curve since Nov 2007.
This is the 13th daily flattening out of the last 15 days...
Everything changed after China intervened in it's FX market 'Shanghai Accord'-style...
There was some serious volume in Treasury futures as the data hit...