It is early in the day but ugly does not describe today’s action. Screens are beet red…and one thing really starting to stand out. It is the mauling of the high-yield, junk bond arena. We have yapped forever here at this area as the most mis-priced and distorted market brought to you by Mr. Bubble Bernanke…which fed into Wall Street doing their normal leveraging and reach for yield.
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- PRE MARKET/CHINAJanuary 18, 2019 - 8:51 am
We are not going to complain about the fake China trade news that moved markets yesterday. We just want to concentrate on: The reaction was good…and now we have another little gap to the upside this morning. The DAX, the CAC and the FTSE break above the 50 day average this morning. This on top […]
- RADIO SHOW 1/17January 18, 2019 - 8:42 am
- PRE MARKETJanuary 17, 2019 - 9:08 am
Most notable is how FINANCIALS have been reacting whether numbers good or not so good. JPM, PNC open down on misses and rally up. Names that beat ramp up…like a GS. MS misses this morning…but only down a wee bit. There is no way the bear resumes unless FINANCIALS roll over again. Notable: China unleashes […]