With China offline for the rest of the week, global markets have found a new Asian bogeyman in the face of Japan which as reported last night saw its markets crash, and the Yen soar, showing that less than 2 weeks after the BOJ unveiled NIRP, yet another central bank has lost control.
Gold Up 12%, Silver Up 11% YTD As Stocks Crash ... Again
Gold jumped 2 percent to a 7-1/2-month high yesterday, briefly touching the psychological level of $1,200 an ounce. Falling bank shares and stock markets and worries over global economic growth and a new financial crisis prompted investors to seek the safety of gold.
Submitted by Pater Tenebrarum via Acting-Man.com,
A Harrowing Friday – Momentum Stocks Continue to Break Down
The release of Friday’s payrolls report was the worst of all worlds for the US stock market. This typically happens in bear markets: suddenly fundamental data that wouldn’t have bothered anyone a few months ago are seen as a huge problem. Why was it seen as problematic?
Are the "fiction peddlers" winning?
Since the "great" jobs report, stocks are tanking, the dollar has roundtripped, and bonds & bullion are surging...
Large cap financials have had an awful time in the last month and are 11.7% lower so far in 2016.
As ConvergEx's Nick Colas details, that’s worse than pretty much anything else, including all other S&P 500 sectors, the Russell 2000 small cap index, and even the MSCI Emerging Markets Index.