It wouldn't be the US equity market if the worst-of-the-worst companies were not getting bid to the moon. With all the event risk ahead, those who suggest that "stocks dont like uncertainty," appear to be talking anally once again. Today's best day in stocks in 2 months is driven not just by EURJPY carry-mongers, but by the largest short-squeeze in US markets in 15 months. Why, we hear you ask? Why not... Just ask the homebuilders - which are up a new normal 5% from Friday's open.
The 'worst' day for the shirts in 15 months...
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as off the Friday lows, "most-shorted" namesare up 3.6%, while the broad index is up only 2%...
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Charts: Bloomberg