Will the S&P hit minus 20% year-to-date?
Market at this hour is in free-fall after some overnight futures buying driven by the Chinese devaluation of the Yuan.
Looks like more rolling into bonds despite Powell's projected balance sheet reductions.
I see extreme uncertainty that (to me) is associated with the unknown behavior of the Fed. They talk more than they do.
Powell is happy doing it this way. He wants an orderly bear market, which he will declare to be a "soft landing." So far great news -- no need for a trading day circuit breaker.
Surely @NJPSU started the day short.
Market at this hour is in free-fall after some overnight futures buying driven by the Chinese devaluation of the Yuan.
Looks like more rolling into bonds despite Powell's projected balance sheet reductions.
I see extreme uncertainty that (to me) is associated with the unknown behavior of the Fed. They talk more than they do.
Powell is happy doing it this way. He wants an orderly bear market, which he will declare to be a "soft landing." So far great news -- no need for a trading day circuit breaker.
Surely @NJPSU started the day short.
