MUH bond yields are NOT higher today, yet stocks are. The 10 yr is down 1bps to 2.84% and the 2 yr is down 3bps to 2.12%, creating a nice big fat spread of 72bps for banks to get rich off from.
Over in crypto world, BTC is struggling to keep its head above $7,000 — as the entire markets drowns in its own hubris.
Volatility is of course spiking — but there are signs of hope. We’re seeing strength in the metals: gold, aluminum, silver, and iron. Also, oil doesn’t look all that bad, at least not dreadful — especially when compared to the banks.
The banks are getting hit hard, naturally because their profit margins are spiking with the yield curve spread widening.
Market breadth is ~+30%, which means there are signs of life. I did purchase more XIV on Friday, so I’ll be hard pressed to do it again. I will, however, make a gigantic purchase of SPY, if and when Exodus closes oversold. We haven’t enjoyed a systemwide oversold signal since March of 2017 in this bastard of a market. In spite of losing money now, I am pleased with the vigor and the verve this market is showing now — coming back to life — playing both sides of the spectrum.
After all, what good is making money if there’s never any risk of losing it?
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Unpossible. Armageddon avoided. Who could’ve seen that recoil like this? Not even a healthy 6-10% correction for the BTFDers. PPT/Citadel strikes again. Waiting for Jay Powell to burn the barn down.
Clearly the pro here is Sarc, running a $10,000 physical gold hedge fund from his grandma’s basement. When are you gonna get this Golden Boy his own blog? Tag team with ZeroPointNow would be unstoppable.
you jealous or sumtin, pumpkin..?
but that was kinda funny tho. keep up the good work buttercup
this bastard market..?
its been easy as playing chess with a kid..
not tomorrow.. but lower prices ahead …..
Very much so, but would be more if you were to cut off one of your balls