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Sunday, May 31, 2020

Stocks Suffer Worst Week Since Lehman Despite Biggest Fed Bailout Ever

This has been the sharpest market selloff in history... This was the worst week since Lehman (and worst 4 weeks since Nov 1929) for The Dow Jones Industrial Average...(Dow was down 18% during the Lehman week and 17.35% this week) Source: Bloomberg Despite The Fed gushing a stunning $307 billion into the markets - almost…

Stocks & Bond Yields Collapse After Trump Announces EU Travel Ban

Shortly after President Trump began his address to the nation, enacting a full travel ban from European nations for the next 30 days, the markets started to get upset. Dow futures are down over 850 points... Japan's Nikkei 225 is down over 350 points... 10Y Treasury yields are down 15bps... The Euro is strengthening against…

Stocks Puke Into Bear Market As US Financial Conditions Crash Most ‘Since Lehman’

Today the stench of a desperate liquidity scramble as The Dollar rallied while Stocks, Bonds, Bitcoin, Crude, and Gold were all dumped. The Fed ramped up its liquidity bailout facility to a stunning $175 billion per day and still the market kept collapsing... The Dow and S&P crash into a bear market...erasing most of the…

Oil, Stocks Rip Higher After Trump Promises “Very Dramatic” Actions To Support The Economy

After almost the biggest single-day drop since Black Monday, it is hardly surprising that markets are bouncing back a little and all it took was the promise of 'very very substantial' relief to hard-working Americans hurt by the impact of the virus. During the daily virus update press conference, President Donald Trump said his administration will discuss…

Stocks Tank on Renewed Coronavirus Anxiety

U.S. stocks and bond yields dropped Thursday, erasing most of the previous days’ gains and signaling renewed anxiety of the coronavirus outbreak. The Dow Jones Industrial Average plummeted by more than 1,000 points, or around 3.75 percent. The S&P 500 dropped 3.5 percent and the Nasdaq Composite fell by around 3 percent. Losses were widespread,…

Stocks & Credit Crater As 10Y Treasury Yields Hit New Record Low

10Y Treasury yields have plunged back from yesterday small bounce, breaking to new record lows at 89bps... And that has sent stocks reeling, erasing a majority of yesterday's gains... Small Caps and Trannies have erased all of yesterday's gains... Meanwhile, credit has quietly blown out to its widest since 2016... This is not a good…

Stocks Surge To Erase Yesterday’s Losses But Bond Yields Tumble

...some might say Biden trumps Powell... The Dow, S&P, and Small Caps have erased all of yesterday's losses... But bond yields continue to tumble... So maybe the market's demands for more rate cuts trumps Biden's gains?

Stocks Plunge, Erase Fed-Cut Spike – Here’s What Wall Street Thinks

The market seems disappointed. After The Fed's 50bps rate-cut sent stocks spiking higher, all those gains have been erased... But the market (and trump) was asking for more and Wall Street does not seem impressed... as the market's dependence in Fed largesse is revealed for all to see... Matt Maley, an equity strategist at Miller…

Stocks Extend Gains After IMF, World Bank Pledges To “Stand Ready To Help”

US equity markets are pushing higher (Dow up over 750 points from Friday and up 1300 points from the overnight lows) after the International Monetary Fund and World Bank pledged to use “available instruments to the fullest extent possible, including emergency financing, policy advice, and technical assistance” to aid member countries as they respond to…

Stocks Slide As CDC Confirms 53 Cases In The US

Summary: Stocks slide as CDC releases new US case numbers Italy reports 7th death, 200+ confirmed cases WHO says outbreak not yet a 'pandemic' First cases reported in Oman, Bahrain WHO kowtows to China in statement Wuhan issues order to loosen lockdown, then U-turns NHC says outbreak is fading, though situation remains "grim" China approves…

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