Shortly after it got steamrolled by the market, which as we noted earlier has had its best start to a year in history for global stocks, which made a mockery of its year end price target of 2,800, moments ago Bank of America hiked its S&P price target to 3,000.
BitFlyer - the largest exchange in the world with up to 30% of the global market and controls 80% of bitcoin trading in Japan - is launching its European service on Tuesday, after it received a license from Europe's financial regulator.
"In a discussion with traders last night, one of the only risks we all agreed on was a global trade war prompted by Trump enacting protectionist measures. Just a few hours after that, Trump announced new tariffs targeted at Asia."
After earlier tracking the latest rally in global equities following the reopening of the US government which saw Asian stock hit new all time highs, US futures encountered an unexpected airpocket, sending the E-mini sliding as much as 10 points from session highs.
In a violent, stop-hunting rollercoaster session, the yen rose, then fell, then rose again, with the USDJPY trading at session lows at 6am ET after the BOJ issued seemingly conflicting messages, catching traders wrongfooted on several occasions.
"Pushing the spending bill into the debt ceiling time-line may make a package even more politically toxic, especially since Republicans may have more objections to raising the debt ceiling than Democrats."
Mitch McConnell said he is canceling the previously scheduled 1am procedural vote and instead the Senate will vote on the stopgap spending bill at noon Eastern on Monday, meaning the government will remain closed at least until 12pm on Monday.
A couple of weeks ago, comments from the UAE’s energy minister spurred the oil price rally higher... The rise, however, may have been too high for OPEC and Russia’s liking.
Morgan Stanley is quietly becoming the world's largest discount hedge fund: assets in accounts on which Morgan Stanley earns management fees hit $1.05 billion, a record percentage of total client assets.
Today's story may not be stocks, but rather rates as the 10Y Treasury yield is now climbing above 2.6% for the first time since March, a key psychological level and Gundlach's "redline": "We are going to change the regime probably within the next 2-3 months."
"We don't find the sell-off warranted by the headline since Apple's marketable security holdings have a short maturity and are concentrated in corporate bonds."
