and back to PPT unchanged! who would've thought
Today's price discovery destroyers market action:
https://www.zerohedge.com/news/2019-08-07/bonds-gold-surge-stocks-purge-fear-reaches-2019-extremes
In the US, markets were mixed with Nasdaq best as desperate panic bids appeared to lift stocks back to unch (and to top the farce off a super-spike at the close)...
Farce is a very good way to put it.
that's always fun to watch, everyone fleeing to bonds, gold, and crypto while ppt tries over and over again to keep equities at unchanged
Gold surged to new six-year highs...
(ppt has to print money to manipulate those markets)
30Y Yield plunged to near record lows...
and people are so desperate to park their cash somewhere, they're even willing to lend to the US for 30 years - and everyone knows theyll be insolvent with unprintable dedollarization by then
Finally, with $15 trillion (and rising tonight) in negative-vielding debt, bullion and bitcoin appear the preferred safe haven against policy-maker panic...
because no-yield is better than negative-yield in todays central bank shenanigans
Still, global bonds and stocks remain massively decoupled...
With plenty of room to run in the equities sell-off!
And for those market-leading research analysts at the Federal Reserve:
https://en.wikipedia.org/wiki/Minsky_moment
here is a nice powerpoint to accompany that:
http://www.quantlab.it/IFM/5-Grasselli_IFM-19Oct2012.pdf
pay special attention to the "Ponzi financing" slides - it pertains specifically to the QE question you emailed zerohedge about
https://www.bloomberg.com/professional/request-demo/
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