Business

Having melted up on a sea of momentum since the US open, the stock market just broke...

At 1322ET, BATS declared self-help against Chicago Stock Exchange...

And VIX and Nasdaq reacted...

And chaos breaks out...

Instead of finding new and creative ways of BTFD, overnight the BofA credit team did something so few finance professionals bother with these days: they looked at fundamental data to reach a conclusion that is independent of how much AAPL stock the SNB will have to buy to send the Dow Jones green. Specifically, the bank looked at the liquidity situation in the bond market (specifically the IG space), and found that while for the time being there is little to worry about, once the central bank put melts away, that's when the real test will take place.

Authored by Simon Black via SovereignMan.com,

Quite literally as a I write these words to you, the heads of the world’s largest central banks are packing their bags and heading home after a three-day symposium in Jackson Hole, Wyoming.

Central bankers aren’t exactly mega-celebrities, so their conferences don’t make international news outside of financial circles.

But if people understood what was at stake, they’d probably pay more attention.

Authored by Frank Holmes via StockBoardAsset.com,

Summary

• Are government inflation numbers more “fake news”?
• A falling dollar is good for U.S. trade.
• Are you ready for a big fight?

Sometimes you just have to laugh...

The dollar is down, gold is up, Treasury yields are tumbling, and bitcoin is higher...Spot the odd one out

So why are stocks unchanged?

Here's why...