Equity Markets

WSJ Stunned By "Lack Of Market Dips To Buy"

The last time equity markets went this deep into a year without all three of those benchmark indexes suffering at least 5% pullbacks was nearly a quarter-century ago, in 1993.

T-Bill Tantrum: Yields Spike As Debt-Ceiling Anxiety Begins To Show

US default risk has flatllined for weeks, market risk has leaked to record lows, and Treasury Bills have 'behaved'... until now. The last two days have seen a sudden aggressive spike in the yields of T-Bills around mid-October, inverting the yirld curve as debt-ceiling anxiety starts to build quietly away from NFLX and AMZN shares.

Global Stocks Hit Record High, Set For Longest Winning Streak Since 2015

With the USD just off 10-month lows, there continues to be an easing of loosening of financial conditions for emerging markets which also supports equities. After decent gains in Asia on the back of positive signs from China this week, MSCI's world stocks index looked set for a ninth day of gains which would mark its longest winning streak since October 2015.

Dollar Tumbles, Euro Soars After Obamacare Repeal Dies; China Intervenes To Halt Rout

The Bloomberg Dollar Index tumbled to a fresh 10-month low after two more Republican defections on Monday night doomed the proposed GOP healthcare plan in the Senate. And while Treasuries rose on concerns about inflationary pressures and the viability of the Trump stimulus agenda, S&P futures rebounded gingerly from session lows, and were up 0.1%

Sleepy Overnight Session Interrupted By Chinese Market Turmoil

While it was indeed a generally quiet session (with Japan markets closed), US equity futures continued their run into record territory (ES up 0.1% to 2,458.50), and Europe fractionally lower, the early Monday focus was on the previously discussed turmoil for Chinese markets where despite a solid set of Chinese data small caps tumbled, selling off into the close after further warnings of regulatory scrutiny and deleveraging,

Global Stocks Soared $1.5 Trillion This Week - Now 102% Of World GDP

Thanks, it seems, to a few short words from Janet Yellen, the world's stock markets added over $1.5 trillion to wealthy people's net worth this week, sending global market cap to record highs. This was the biggest spike in global equity markets since 2016 and, for the first time since Dec 2007, pushed world stocks above world GDP...

How Dumb Is The Fed?

"Nothing comes from nothing. Fake money produces fake prosperity. Take away the fake money… and the fake prosperity goes “poof,” too. Which is why the Fed will never, voluntarily, stop manipulating prices. It can’t let the markets return to “normal” price discovery. Because the markets are likely to discover prices a lot lower than Dow 20,000."