While in the USA bond defaults touch a record low … t.co/VJYxX6zhO0
$SPX continues to use these 2% pullbacks to trap a small amount of shorts and then push to a new all time high.
It’s a cycle which has resulted in the steady grind higher.
Eventually, it’ll collapse like a landslide.$ES F$SPY What we are seeing right now is bifurcation in the labor market…in small businesses. 44% of small businesses and 57% of small leisure and hospitality small businesses are closed. It is a reflection of wage inflation… t.co/kBiR2HdHqi
More Japan rotations out of foreign stocks and into bonds last week, synonymous with pension activity.
Japan funds bought 906.5b yen (~$8.4b) in overseas bonds vs selling 1.1t yen (~$10.5b) in stocks, the most since November. t.co/WVvG5gEp60
Credit Suisse is raising about $2 billion to shore up capital after warning of another financial hit from the Archegos collapse. @Flacqua spoke to CEO Thomas Gottstein this morning t.co/PFudNB0a3cpic.twitter.com/csU5wapLn4
Hedge fund leverage to the moon. Who is the next one to be bailed out?
10yr yield 1.54% stocks getting hit hard… PROBLEM, REACTION, SOLUTION…The Fed. will institute yield curve control.. all this is part of their real mandate which is to BUY IT ALL. GM
Traders are betting U.S. inflation will surge in the short term before ebbing longer-term. The 5-year inflation rate is now above the 10 year one for the first time since 2008. The gap between the two has never been as big as it is now. t.co/GmSuXW3FWqpic.twitter.com/YCs30pTISD
bond vol first, then equity vol
There was a mysterious collapse in U.S. swap spreads on Wednesday. Lots of theories out there, mostly questionable.