
Black Monday... Part Two
• https://www.zerohedge.com, by Tyler DurdenAt its lows today, this was the market's biggest down day since 1987 (by the close the biggest since Oct 2018)!
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At its lows today, this was the market's biggest down day since 1987 (by the close the biggest since Oct 2018)!
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.
Enter Bear Market
Over the weekend, we discussed the latest analysis by JPMorgan's Nick Panigirtzoglou according to which in addition to the literal lock up in equity markets (where S&P futures were halted limit down for hours overnight), credit and funding markets we
The Panic of 2020
With energy junk bonds crashing...
Update (1115ET): With VIX stubbornly holding at post-financial crisis highs, someone just bet things are about to get worse... than the peak of the financial crisis...
The Dow is making new lows for the day, down almost 2100 points, or more than 8%...
In a world without the contrarian beacon that was Dennis Gartman, the head of the world's largest hedge fund has valiantly stepped in to take his place.
Over the course of the last few hours, we have been moving back and forth between being aghast at the market carnage, and all it might imply, and feeling agonizingly anxious about missing out on the rebound sure to be coming.
The Dow closed on Monday down more than 2,000 points after a dramatic day of trading which saw the markets close briefly because stocks were free-falling so chaotically.
It's been a rough two weeks in bond markets, to say the very least.
The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight. While Monday's drop was significant, it still didn't crack the 20 worst days for the S&P 500.
Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
Bloodbath on world markets: Oil prices see the biggest plunge since the Gulf War in 1991 as Dow set to open 1,000 points lower while coronavirus panic wipes £130billion off London markets with FTSE 100 falling 8.5 per cent
It was just a matter of time before the ongoing financial and economic crisis spawned by the coronavirus pandemic morphed into a political intervention to save capital markets from evil short sellers,...
Crude futures opened down a massive 31% today. Prices have recovered a bit, but price is well below cost of production. Saudi Arabia and Russia started an Oil Price War on Saturday.
For the first time, the LDS Church's biggest investment fund has disclosed its Wall Street holdings, revealing $37.8 billion in stocks and mutual funds.
The 3-month Treasury bill's equivalent yield has plunged, absolutely plunged. It was 1.45% last Thursday. Today? All of 45 bps. A one-hundred basis point drop in six trading sessions. One hundred. Six days.
: Here's The Reason Behind Today's Unprecedented VIX Move
This is it! The party is over. The world is now facing the gravest economic and social downturn in Modern Times (18th century).
There is real power in the word "No." In fact, I'd argue that it is the single most powerful word in any language.
In this episode, Tim and John examine what's behind the recent market volatility, and what to consider when examining their weekly/monthly performance.
- Oil Prices Have Collapsed After OPEC+ Talks End Without A Deal
Update (1230ET): On the heels of JPMorgan's decision to begin its resilience plan, a number of the rest of US' majors have also started their own contingency plans:
A key gauge of banking-sector risk is indicating stress in dollar funding markets as equities around the world tank on growing virus concerns and traders bet on further central bank easing.
Treasury yields plummeted to record lows Friday as concern about the global economic and financial impact of the coronavirus spurred demand for havens and traders amped up bets on further central bank easing this month.
How Americans Are Making Money When the Stock Market Is In Chaos
Josh Sigurdson reports on the stock market once again as interest rates are dropped out following an emergency rate cut decision by the Federal Reserve. The stock market did not appear to react to the cut on Tuesday but it reacted to politics on Wedn
Update: Just in case we needed another confirmation that there was a sudden, unexpected liquidity clog in the interbank market, Dealers submitted a record $108.6BN in overnight repo, resulting in the first oversubscribed overnight repo operation sinc