It has been a seesion of violent, volatile gaps, starting with sharp gap up in S&P futures on Wednesday night, just around 10pm, which saw ES spike and rally to new all time highs on no news...
Hours after the devastating terror attack in Manchester, England, and following UK PM Theresa May's announcement of quasi-martial-law on the streets of Britain, Nigel Farage follows yesterday's BBC anchor's comments and asks "what is our government actually gonna do?"
"Get used to it"...
Authored by Michael Snyder via The End of The American Dream blog,
Last week, when looking at the the distortion and absurdity unleashed by the ECB's asset purchase program upon European capital markets, we showed the unprecedented collapse in European junk bond yields as captured by the effective yield of the BofA/ML Euro High Yield Index, which is now trading just shy of all time lows, having dropped below 3% at the end of April, and printed at 2.79% on May 23, within bps of record lows...
It has gotten to the point where traders, like most reflex-based creatures, have become accustomed to the seemingly daily Trump "bombshell" news to emerge just after 5pm from either the WaPo or NYT. So much so, in fact, that when there is none - as was the case overnight - they to complain.