Mkt Fag: $2T OpEx today and Goldman/Shitibank/Wells Fartgo/Morgan Stanley lay turds but don't look at dhat…just 'up' on muh DOW for most of the day-then the ejector seat pulled edition

Interdasting here as the RUT had being doing well despite the overall indices over the last few days but the closing numbers reflect this

Russell 2000: 2,004.98 -20.12(-0.99%)23red circle upper middle of cap #2

A bit ominous dat…..

This below explains a lot of the big chunks seen today and this week-but still think the ones earlier in the week and last week were Softbank-and even with all that the volumes are below daily avgs. Markets closed tomorrow and Bond market closed early today too-see cap#5. Also not bothering with the over-covered Musk TWTR stuff-you've al seen it by now.

Skittish Stock Traders Are Bracing for $2 Trillion Option Expiration

Inflation is surging, central banks are on the move and now it’s earnings season. To top it all off, stock traders face the market-roiling potential of a monthly options expiration estimated at more than $2 trillion. Roughly $495 billion in single-stock derivatives are set to expire Thursday, with another $980 billion of S&P 500-linked contracts and $170 billion in options tied to the State Street fund tracking the S&P 500 all running out as the holiday-shortened week ends, according to estimates from Goldman Sachs Group Inc.’s Rocky Fishman. Such volumes have been a source of volatility in the past year.

https://www.advisorperspectives.com/articles/2022/04/14/skittish-stock-traders-are-bracing-for-2-trillion-option-expiration

NASDAQ having some reeeally big exits that have screwed it all day can see them on the left side of cap#2 but as if by another "magicians act" showing up there was a YUGE buy at 12:56pm EST of 2.25B-and everything on the NAS turned at the same time-TSLA too. The earlier stuff is still likely Softbank cause they don't care they just "dump"-in a world of hurt for cash right now. Looks like another exit on the NAS of 2.84B at 2:30pmEST-taking advantage of the "help" at 12:56pm EST and that "help" was it the LOD before that last chunk showed up. TSLA dumping and since that is the biggest exposure of the hopium "expert" Cathie Wood's ARKK fund she is having a bad time with that-betcha she doubles down again and some story will come out later about her BTFD.

DOW has bounced off the neckline (previous days close) twice so up it went after that and then down into the close. Goldman's "results" are all about fixed income-feeding at the reverse repo teet imo- >>>/qrb/133213 Shitibank pretty much the same but 'up' they go-the only outlier is WFC and JP Morgan who is still down today-but some appear to be "nibbling" on it intra-day see below with regards to share price. So as mentioned last week the crowded trade is to short the banks and the only reason that XLF (Bank ETF) has not shit the bed is that it's largest component (%-wise) is Berkshire Hathaway at about just under 13% and next is JP Morgan at 11.47%-so "uncle Warren" is not really a bank but it is the largest position in the "Big Bank Index"….

see ZH cap #4 for todays bond complex action

Treasuries ohhh muh Treasuries…yields back up again(after two days of dropping) because of muh "aggressive Fed hikes" bullshit again-we already know they don't set rates the bond markets does so this is even wayyy moar tired than Putinflation. Also the aforementioned OpEx gong on today….who dafuq noes at this point but most of this shit ain't real to begin with as you only really see about 10% of everything done on a daily basis reflected in muh "markets"..it does not reflect the trillions of transactions in darkpools or 'off book' deals/swaps. New York Fed President John Williams said on Thursday that the U.S. Federal Reserve should reasonably consider raising interest rates by a half percentage point at its next meeting in May, which was seen as a further sign that even more cautious policymakers are on board with bigger rate hikes . This was after the ECB said it plans to cut bond purchases - known as quantitative easing - this quarter, then end them at some point in the third quarter-again lotsa luck with the non-maturing ones-who gonna buy those…you might wanna ask the Bank of Canada, Japan and our own FRB.

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>>16077412

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Shitibank Profit sank 46% from a year earlier to $4.3 billion-cause that is always 'good' news and the same shit they all do-shitibank "set aside $1.9 billion to shield itself from potential losses stemming from its exposure to Russia" to be reapplied to muh bottom line in Q2. Morgan Stanley same as Goldman…all fixed-income. MS said investment banking revenues fell 37% year-on-year and as a reminder "repurchased $2.9 billion of its outstanding common stock under its share repurchase program, and announced a $0.70 quarterly dividend". So essentially creating EPS by "magic" and buying back almost $3B in own stock….ree-dick-u-lous. Wells Fartgo also "beat"-Net interest income at the bank increased 5% in the first quarter due to lower mortgage-backed securities premium amortization, a decrease in long-term debt, and higher loan balances.

Noninterest income, however, fell 14%, driven by lower mortgage banking income, the bank said. But then the usual "magic" here as well "The bank repurchased 110.1 million shares, of $6 billion, of common stock in the first quarter." An the only equity shitting the bed is Wells Fartgo on well above average volume too.

Oil up on muh russian oil embargo-so much for muh SPR releases….kek-see cap #3 previous post. They do that and oil will skyrocket (especially Brent)-put on a full embargo-but all this does it make it "sweeter" fro Armaco IPO coming soon. So they are going to "table it" until after the April 24th election in France (Merde Boi vs Le Pen). Don't wanna piss of those voters now would ya Merde Boi?

Some Headlines

The Fed Just Disengaged Its Volatility Suppression Machine

see cap #2 this post

The Fed minutes released last week revealed the central bank intends to start reducing its balance sheet by as much as $95 billion per month beginning in May. Investors ought to pay very close attention to this development because, for a very long time now, the Fed has effectively used its asset purchase program to suppress volatility across a variety of markets including the equity market.

https://www.zerohedge.com/markets/fed-just-disengaged-its-volatility-suppression-machine

see cap#3 for this

Mortgage rates top 5% for first time in a decade

Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation. The average 5% rate on the 30-year mortgage was up from 4.72% last week, mortgage buyer Freddie Mac reported Thursday. The average rates in recent months have been showing the fastest pace of increases since 1994. By contrast, a year ago the 30-year rate stood at 3.04%.

https://www.oregonlive.com/business/2022/04/mortgage-rates-top-5-for-first-time-in-a-decade.html

in of course you say that news:

Citigroup Sees ‘Significant Interest’ as Mexico Sale Talks Kick Off

https://www.bnnbloomberg.ca/citigroup-sees-significant-interest-as-mexico-sale-talks-kick-off-1.1752521

and in "just US" news

Fired Goldman Trader Loses Bid to Revive Claim Against Bank

A former Goldman Sachs Group Inc. managing director failed to convince a court to revive his claim that he was illegally fired for blowing the whistle on compliance lapses at the bank. Christopher Rollins sued Goldman in 2018, but the case was sent to arbitration. A Financial Industry Regulatory Authority panel dismissed his claims last year, and a federal judge in New York on Thursday rejected Rollins’s attempt to overturn the arbitral decision. Rollins claimed he was terminated for highlighting the bank’s dealings with controversial German financier Lars Windhorst and its failure to comply with anti-money-laundering laws. According to Rollins, he was made a scapegoat after transactions with Windhorst raised questions, even though the client relationship had been cultivated by more senior Goldman managers.

In seeking to vacate the March 2021 arbitral award, which also required him to pay $8,887.50 in fees, Rollins argued to U.S. District Judge Edgardo Ramos that he had been denied access to evidence, including compliance records showing that Windhorst was on a restricted list. But Ramos found that Goldman produced tens of thousands of pages of documents in the case and noted that Rollins conceded that he had received a fair hearing. The parties also introduced “ample evidence” about Goldman’s decision to terminate him including more than 100 exhibits and Rollins called 11 witnesses, the judge said.

https://www.bnnbloomberg.ca/fired-goldman-trader-loses-bid-to-revive-claim-against-bank-1.1752570

https://finance.yahoo.com/quote/%5EIXIC

https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart

https://www.thebalance.com/mortgage-rates-trends-april-14-2022-5225973

>>16077435

just noticed dis

corrected