iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,598 Blog Posts

RATES SKYROCKET; STOCKS COLLAPSE

I’ll keep this concise for the people who read me but don’t like to read.

The US 10 yr is up 14BPS to 4.48%. This means there is ZERO chance stocks are setting up to rally. The higher yields go the more fucked we become.

Russia banned the exportation of all distillates.

Refiners have rallied and oil is sharply higher again.

The NASDAQ is screaming lower, but not nearly as hard and fast as it should be. Because of this, expect a FALSE RALLY this morning followed up by a late day collapse.

I am 100% cash, +31bps thanks to large shorts — patiently waiting in the tall grass waiting to short again and bite off the heads of bullish zebras.

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