NASDAQ

Fed's Brainard Delivers A "Very Significant Speech"

There is much to contemplate in Brainard’s speech, but if she plays Jiminy Cricket to Janet Yellen expect the Fed chair to support this outlook. Other political factors such as the White House tweets and buffoonery cannot be accounted for in an algo-driven world. But I believe that Brainard did more to impact markets than the e-mails of Donald Trump, Jr.

"Quant Quake": What Was Behind Last Week's Historic CTA Crash, And Is Another One Imminent

Markets continue to set long-term records for price instability or “fragility”, with a five sigma sell-off in the S&P 500 on 17-May, a 3 sigma drop in the Nasdaq 100 on 9-Jun, a 3 sigma rally in commodities last week and a 3 sigma sell-off on average across global bonds. The net result was a 5-sigma drawdown in CTAs, the worst since 2000, excluding the quant crash of 2007.

US Equities: Unwinding The Yellen Leveraged Buyout

"Corporate credit spreads are the key indicator to watch, both in terms of the economy and the financial markets.  It’s a game of financial musical chairs. Ray Dalio, Janet Yellen and all of us are dancing.  When does the music stop?"

FANG Stocks Break Above Key Technical Level (Again)

Amid today's low volume, VIX-crushing, melt-up in equity markets, FANG stocks appear to be back in favor by the machines and has rallied back above its 50-day moving-average once again...

Global Stocks Rise Amid Strong Economic Data; Yen Drops To 2 Month Low As Oil Resumes Slide

In a quiet overnight session, S&P 500 futures are fractionally in the green (2,426, +0.2%) with European and Asian stocks as oil drops second day after an initial ramp higher amid speculation that LIbya and Nigeria may be asked to cap their production. Nasdaq 100 Index are again higher, following the biggest daily advance in more than a week, up 0.4% as of 6:20 a.m. in New York.

Bond Rout Fades With Futures Flat Ahead Of Payrolls; Pound, Yen, Oil Tumble

S&P futures are little changed following yesterday's rout even as Asian and European markets continued selling; the pound slid on poor factory data, the yen tumbled after the BOJ intervened to stabilize the JGB bond market, precious metals flash crashed early in the session, while the selloff in oil accelerated despite yesterday's massive inventory draw, although at least yesterday's sharp bond tantrum has stabilized.

Silver Flash-Crashes As Japan Opens

First it was gold last week, then it was half of Nasdaq on July 4th, and now it's silver that is taking it's turn in the 'glitch' camp. As Japanese markets opened tonight, spot silver prices crashed around 6% in a few seconds only to instantly rip back higher...

Global Bond Rout Sends S&P Futures, European Stocks Sliding

S&P futures are sliding this morning, down 0.4% and tracking the accelerating decline in European and Asian stocks, driven by a move higher in global interest rates, which started with Japanese 10Y yields rising to 0.1% for the first time since February, but mostly Bund yields which spiked after tripping stops, and jumped as high as 0.53% for the first time since early 2016.