News From ZeroHedge, Page 2708

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  • Goldman: VIX Options Signal “Normalization Is Increasingly Distant”

    ZeroHedge - Mar 10th 2020 2:05pm EDT

    Goldman: VIX Options Signal “Normalization Is Increasingly Distant” Following yesterday’s carnage (the only prior 7% one-day SPX drops since 1940 had been in Oct. 1987 and Sep.-Dec. 2008), the overnight exuberance, and resumed misery today, US equity market volatility has exploded higher. While VIX closed above 50 for the first time since the GFC, Goldman […]

  • Fed’s “Emergency Rate Cut” Reveals Recession Risks

    ZeroHedge - Mar 10th 2020 1:50pm EDT

    Fed’s “Emergency Rate Cut” Reveals Recession Risks Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, I discussed in “Recession Risks Tick Up” that while current data may not suggest a possibility of a recession was imminent, other “off the run” data didn’t agree. “The problem with most of the current analysis, which suggests a “no recession” scenario, is based […]

  • After Steamrolling Clients, JPM’s Kolanovic Says Buy Some More (But Admits S&P May Crater To 2,300)

    ZeroHedge - Mar 10th 2020 1:30pm EDT

    After Steamrolling Clients, JPM’s Kolanovic Says Buy Some More (But Admits S&P May Crater To 2,300) Exactly three weeks ago, we advised readers that JPM’s head quant, Marko Kolanovic had doubled down on his call to buy”once in a decade” cheap value stocks while shorting low-vol (i.e., growth/momentum) factor names. To justify his case, Kolanovic […]

  • Dismal 3Y Auction Prices At Lowest Yield Since 2013 As Bid-To-Cover, Directs Plunge

    ZeroHedge - Mar 10th 2020 1:13pm EDT

    Dismal 3Y Auction Prices At Lowest Yield Since 2013 As Bid-To-Cover, Directs Plunge After the precipitous decline in bond yields over the past few days, traders were keenly looking to today’s 3Y coupon auction to gauge primary market demand for US paper following the record repricing. And with good reason. Moments ago, the Treasury sold […]

  • The Other Biden Problem: Joe’s Brother Now Facing Allegations Of Influence Peddling

    ZeroHedge - Mar 10th 2020 1:10pm EDT

    The Other Biden Problem: Joe’s Brother Now Facing Allegations Of Influence Peddling Authored by Jonathan Turley, If reports are accurate, influence peddling may be something of a family cottage industry. While Congress continues to look at the Hunter Biden contract and his effort to sell his name to foreign companies, the brother of Joe Biden […]

  • Blain: “You Can’t Spend & Promise Yourself Out Of A Natural Disaster”

    ZeroHedge - Mar 10th 2020 12:30pm EDT

    Blain: “You Can’t Spend & Promise Yourself Out Of A Natural Disaster” Authored by Bill Blain via MorningPorridge.com, Buy Dips or Sell Rally?   “The Renaissance took place in an era of chaos and plague” After yesterday’s sea of red, stock prices are green again. Phew…! Everyone breathe easy and buy the dip? Does that […]

  • It Begins: Occidental Is First US Energy Major To Slash Dividend, CapEx

    ZeroHedge - Mar 10th 2020 12:14pm EDT

    It Begins: Occidental Is First US Energy Major To Slash Dividend, CapEx Back in 2015, after the price of oil cratered after Saudi Arabia decimated OPEC during the 2014 Thanksgiving massacre, US shale companies scramble to slash dividend and capital spending in order to preserve liquidity in a time when virtually nobody was cash flow […]

  • Flight To New Jersey Diverted After Person Coughing Causes Passengers To Panic

    ZeroHedge - Mar 10th 2020 12:05pm EDT

    Flight To New Jersey Diverted After Person Coughing Causes Passengers To Panic All we can say is: get used to stories like this. And while we’re not going to document every single time coronavirus panic takes hold of what would otherwise be normal daily situations, we do think people should prepare to see more of it.   A commercial […]

  • The Fed’s Emergency Rate Cut Was A Big Mistake

    ZeroHedge - Mar 10th 2020 11:53am EDT

    The Fed’s Emergency Rate Cut Was A Big Mistake Authored by Lakshman Achuthan and Anirvan Banerji via CNN Business, Fearing the US economy would fall into a recession due to the coronavirus, the Fed pushed through an emergency rate cut for the first time since the 2008 financial crisis. Yet, our research shows that the US economy came into […]

  • Trump Surprised Staff With Promise Of Tuesday Announcement On Coronavirus Stimulus

    ZeroHedge - Mar 10th 2020 11:15am EDT

    Trump Surprised Staff With Promise Of Tuesday Announcement On Coronavirus Stimulus President Trump surprised his staff by announcing the details of an economic package set to be unveiled Tuesday in response to chaotic markets that have been rocked by the impacts of coronavirus and an escalating oil price war, according to Bloomberg, citing ‘people familiar […]

  • Bitcoin Tested As A Safe Haven After Biggest Stock Crash Since 2009

    ZeroHedge - Mar 10th 2020 10:59am EDT

    Bitcoin Tested As A Safe Haven After Biggest Stock Crash Since 2009 Authored by Horus Hughes via CoinTelegraph.com, Gold and Bitcoin react to global panic Amid all of yesterday’s chaos in bond, commodity, and stock markets, with the yield on the 10-year US Treasury note dropping below 0.5% for the first time in history – a […]

  • Stocks Tumble After Trump Claims Pelosi “Won’t Be Ready This Week” To Meet On Fiscal Plans

    ZeroHedge - Mar 10th 2020 10:48am EDT

    Stocks Tumble After Trump Claims Pelosi “Won’t Be Ready This Week” To Meet On Fiscal Plans Markets reacted negatively to a tweet from President Trump claiming that “Do Nothing Democrats” will be unable to meet this week to discuss possible fiscal stimulus plans. Nancy Pelosi just said, “I don’t know if we can be ready […]

  • As Stocks & Oil Surge, Credit Market Carnage Continues

    ZeroHedge - Mar 10th 2020 10:41am EDT

    As Stocks & Oil Surge, Credit Market Carnage Continues Everything must be awesome again, right? Stocks are up. Oil is up. Bond yields are up… and no one has said the word “bloodbath” on CNBC yet this morning. However, those pesky kids in the credit markets won’t let stocks get away with it as HY […]

  • Nomura: Today Has The Feel Of A Standard “Bear-Market Rally”

    ZeroHedge - Mar 10th 2020 10:32am EDT

    Nomura: Today Has The Feel Of A Standard “Bear-Market Rally” One day after Nomura’s Charlie McElligott deconstructed the various flow and technical drivers behind Monday’s unprecedented VaR shock-cascading plunge in the US stock market, on Tuesday the quant writes that yesterday’s “peak calamity” moment, where shock price gaps triggered “negative-convexity”/“short-gamma”-like trading across VIX, Equities, Rates […]

  • Trump Slams “Pathetic, Slow” Fed As Democrats Take Lead In 2020 Election Odds

    ZeroHedge - Mar 10th 2020 10:13am EDT

    Trump Slams “Pathetic, Slow” Fed As Democrats Take Lead In 2020 Election Odds It would appear that two things have sparked fear in President Trump’s heart this morning: 1) The prediction markets are now betting on a Democrat win in November… 2) And Trump knows that any meaningful fiscal policy juice to rescue stocks (oh […]

  • On The Cusp Of A Bear Market

    ZeroHedge - Mar 10th 2020 10:00am EDT

    On The Cusp Of A Bear Market Authored by Lance Roberts via RealInvestmentAdvice.com, “Tops are a process, and bottoms are an event” Over the last couple of years, we have discussed the ongoing litany of issues that plagued the underbelly of the financial markets. The “corporate credit” markets are at risk of a wave of […]

  • Employees At Steve Cohen’s Point72 Told To Work From Home After Office Coronavirus Outbreak 

    ZeroHedge - Mar 10th 2020 9:40am EDT

    Employees At Steve Cohen’s Point72 Told To Work From Home After Office Coronavirus Outbreak  If one of your hedge fund’s star portfolio managers catches the coronavirus during a fundraising visit or some other work-related outing (whether to Scores or a classier strip club), that’s one thing. But if one of the gremlins in the back […]

  • Trader: “Markets Want Proof, Not Promises” Of ‘Substantial’ Policy Relief

    ZeroHedge - Mar 10th 2020 9:21am EDT

    Trader: “Markets Want Proof, Not Promises” Of ‘Substantial’ Policy Relief Authored by Richard Breslow via Bloomberg, It is certainly safe to say it has been a day of low-conviction trading. Which certainly hasn’t meant small ranges. No wonder the CME is raising the margin requirements on some of its products. The day has a certain […]

  • Vladimir Putin To Stay On As President? MPs Discuss Removal Of Term Limits

    ZeroHedge - Mar 10th 2020 9:06am EDT

    Vladimir Putin To Stay On As President? MPs Discuss Removal Of Term Limits In a somewhat surprising turn of events, Russian president Vladimir Putin said this morning that a suggestion by ruling-party lawmakers that would see his presidential tenure reset, thus allowing him to run again in 2024, should be supported by citizens and adopted […]

  • Funding Freeze Getting Worse: Dealers Demand Record $216BN In Liquidity From Fed Repo

    ZeroHedge - Mar 10th 2020 9:01am EDT

    Funding Freeze Getting Worse: Dealers Demand Record $216BN In Liquidity From Fed Repo Yesterday, when showing the sudden spike in the FRA/OIS spread – a key gauge of banking-sector risk which measures dollar shortages – we warned that liquidity in the market is virtually nil quoting a host of traders who confirmed that it was […]

  • Rabobank: “Dead Bat Bounce”

    ZeroHedge - Mar 10th 2020 8:49am EDT

    Rabobank: “Dead Bat Bounce” Submitted by Michael Every of Rabobank Monday was one of those days that will live long in market infamy. The scale and breadth of moves seen was up there with the very blackest, or should one say reddest, after the Saudis released a second oil Black Swan on top of the […]

  • Rally Reverses After CNBC Reports White House “Not Ready” To Roll Out Coronavirus Stimulus

    ZeroHedge - Mar 10th 2020 8:30am EDT

    Rally Reverses After CNBC Reports White House “Not Ready” To Roll Out Coronavirus Stimulus After futures soared limit up, rising 5%, or over 180 points, from Monday’s close after Trump previewed that a “major” stimulus plan is in the works, including a payroll tax cut and other stimulus measures to mitigate economic damage from the […]

  • Oil Jumps 10% Despite Saudi Plans To Boost Output By More Than 20%

    ZeroHedge - Mar 10th 2020 8:28am EDT

    Oil Jumps 10% Despite Saudi Plans To Boost Output By More Than 20% Crude oil futures soared 10% on Tuesday morning after the most significant decline since the 1991 Gulf War on Monday, after Saudi Arabia slashed export prices of oil over the weekend in retaliation to Russia walking away from a production cut agreement at OPEC’s […]

  • S&P Futures Soar, Hit ‘Limit Up’ In Frenzied Rebound On Trump Stimulus Hopes

    ZeroHedge - Mar 10th 2020 8:14am EDT

    S&P Futures Soar, Hit ‘Limit Up’ In Frenzied Rebound On Trump Stimulus Hopes Just how illiquid and volatile is this market? Consider this: one day after the S&P Emini future was locked limit down for hours on Monday morning tumbling 5%, on Tuesday the same futures contract initially tumbled 1.9%, dipping below 2,700, before soaring […]

  • New Jersey Declares State Of Emergency As Coronavirus Cases Triple In Greater New York

    ZeroHedge - Mar 10th 2020 7:46am EDT

    New Jersey Declares State Of Emergency As Coronavirus Cases Triple In Greater New York NYC-based bankers better have a bugout base in Antarctica, because all the suburban bedroom communities preferred by wealthy financiers have already been infected with the coronavirus: Westchester, New Jersey, Fairfield County and Long Island (though thankfully not the Hamptons) have all […]