The yield curve has been tightening a bit, which has caused investors to chimp out and sell their bank stocks. At 115bps, the poor, idle, bankster is hardly able to make a living — doling out loans to stupid people at 32%apr.
Banks are off by 4% for the session. Crash mode.
Here are some larger capped standouts.
Bank stocks are reeling, off by 4%, as if the apocalypse was just around the bend. In addition to that carnage is a sharp and deleterious heart attack drop in Trump plays, like $CLF, $X and zinc stocks like $HBM.
On the upside, bitcoin and gold are higher, as well as utilities and bonds — a archetypical risk off Day.
The subsequent effect this is having on the overall indices is one of extreme harassment, sending the Dow much lower, alongside the very weak Nasdaq, which is filled with a sundry of weak numales running absurdly overvalued technology companies in Silicon Valley.
We at Ibankcoin hope that they die.
As an aside, Fed’s Kashkari was taking questions on Twitter today. I managed to squeeze one in.
Won’t be long now Trumptards! https://www.usnews.com/news/national-news/articles/2017-03-21/lawmaker-paul-manafort-laundered-750-000-from-ukraine-in-2009
What is the difference between Bobby, Benny, Ricky, Danny, and Bob, Ben, Richard, and Dan? Maturity and brains.
It’s not my real name – how old are you?
Old enough to understand that “Trumptard” + “benny” = adolescent at best.