It’s off by another 5% today, extending the recent foray into oversold territory by 21% for 2016–so far.
Crude oil, however, is higher by 5.5% (contracts rolled?) on some bullshit story that the hedonistic clowns at OPEC will cut supply. They’re simply too lazy to file the paperwork to care that much.
The Yen is stable vs the dollar, so that’s good news.
Globally, bonds are selling off, which is good for risk assets. Portuguese-German spreads have narrowed to 374 bps.
Gold is down 0.8%.
And, finally, Dow futures are higher by 35 and DAX futures are higher by more than 1.5%.
In summary, Japan is getting rocked tonight because their markets were closed last night. Other than that, there’s been a cessation of selling and it appears the risk aspects of the market are in play.
NOTE: Tomorrow is the last day I’ll accept free trials for Exodus. Give it a try and enjoy it with my compliments.
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The tad gains in the late trading are gone thanks to the Stocks/YEN unwind. . .
God I hope Dudley can pick up the torch that Yellen’s neglected and make this bounce happen.
This is just great! “They know nothing!” https://www.youtube.com/watch?v=EklCI7D7Rns