We asked this morning "Is The Short Squeeze Over?" - it appears the answer is... YES
And it was Jamie Dimon who let the cat out of the bag and his "bottom" looks in jeopardy...
And that weighed further on the entire financial sector...
So - a banker told the truth about bad things... an oil minister told the truth about bad things... and a major industrial CEO told the truth about bad things... and Consumer confidence tumbled - Which, given the awesomeness spewewd on CNBC in the last week, can be summed up as...
Despite all the hopes and short squeezes, it's not like credit risk went much lower during the squeeze (and rose today)...
So Nasdaq suffered the most today (though notice that Trannies staged a pretty good bounce off the EU Close lows)...NOT "Off the lows"
Futures show the various "jerks" in stock "markets"..
With Nasdaq now lower on the week...
Time for SPY to catch down to XIV once again...
Treasury yields closed lower on the day (and unch of the week) after plunging as oil weakened following Al-Naimi's comments...
Cable kept on tumbling today but FX markets were almost unprecedentedly quiet otherwise...
Despite the quietness in FX, commodities were very exciting... Crude crashed back to reality, crude slid and PMs rallied...
The week in crude oil... "speculators"
Charts: Bloomberg