Bonds have gievn up, comodities have given up, inflation expectations have given up, bank stocks have rolled over, and even 'soft' data is starting to rollover... still the 'rally' is in tact, it's just a fleshwound according to the business media...
European stocks slide as traders returned from a 4-day Easter holidays, Asian equities likewise drop pressured by the ongoing rout in iron ore, while U.S. stock-index futures point to a lower open. British markets were roiled after U.K. Prime Minister Theresa May said she would seek an early election on June 8, in a move aimed at strengthening her hand going into Brexit talks; the FTSE 100 dropped 1.3%, on the news, hitting the lowest since Feb. 24 while 10Y Gilts dropped below 1% for the first time since October.
Authored by Mac Slavo via SHTFplan.com,
The world is awash in crisis with wars looming, economies crashing and revolutions brewing. Doomsday bunkers sales are soaring and individuals from coast to coast are getting ready for whatever tomorrow may bring. Moreover, even governments like China and Russia are preparing, having gone so far as to create their own exchange mechanism to trade directly with gold in the event of a global currency crisis or financial meltdown.
Just seemed appropriate...
Soft data rolled over today (as Empired Fed and Homebuilder confidence dropped) but one glance at the following chart shows the "odd one out"...
S&P futures extended their Wednesday decline, dropping in the overnight session with banking shares in focus ahead of results from JPMorgan and Citigroup. European stocks likewise retreated along with the dollar, while Asian shares were mixed.