Bonds & Bullion Bid As Stocks Skid On Stimulus/Vaccine Stumble
For a few brief moments today, stocks rallied to record highs and all was fixed in the world as leaked “scoops” suggested Mitch McConnell was readying a $900bn COVID Relief Bill that might just work… but then that was dismissed and algos refocused on disappointing vaccine headlines once again… 1154ET SOME STATES’ COVID VACCINE ESTIMATES…
Dollar Dump Sparks Bid For Bonds & Bullion; Pfizer Faux-Pas F**ks Stocks
Disappointing Services ISM data today along with over 20 million Americans still claiming unemployment benefits does not set up well for tomorrow’s payrolls print. Breaking down the economic data recently we see surveys (hope) starting to tumble, the labor market at its weakest since Feb, and Retail at its weakest since June… Source: Bloomberg But…
Momentum Massacre Trounces Tech Stocks; Bonds Drop, Bullion Pops
Since the Pfizer vaccine headlines hit, markets have gone just a little bit slightly turbo with Small Caps up over 4% and Mega-Cap tech down almost 6%… But don’t overdose on all that exuberance… Nasdaq found support at its Zero Gamma level once again… This is the biggest two-day surge in value over growth in…
QE Hope Sparks Big-Tech, Bitcoin, & Bullion Bid; But ‘Smart’ Money Is Dumping
If everything is so awesome in a new-but-same-as-the-old gridlock’d Washington (according to stocks), why is the smart money running out of the market? Source: Bloomberg We have seen this pattern before and it did not end well… Source: Bloomberg The bottom line for the last day or two is that Fed QE will be the…