Mkt Fag: Muh no P-A-N-I-C in da Housing Market the wheels coming off (data-wise) moment of reality-"we will not be pushed and need to exercise caution" but here's $2t moar for ya so it is just fine-edition
The NAS is the worst today (with the RUT not far behind -27.94 (-1.56%) and by far the most bloated as pointed out many times before-why we focus on it and from the start it sucked -add in TICK (that menas "upticks and downticks + it's an index you can follow to see what is really going on..useful for days like to day - the 3rd largest buy-program of the year and possibruh hint that they will NOT raise rated at next meeting- but there was STILL NOBODY HOME. DOW closed Green but with a mighty SPRAY job-by FAR the biggest volume chunks in the last 6 minutes….6minutes @ 3:54PM est they just threw it at it.
But according to Bill 'the cat' Ackman it's just a confidence problem- His 'money' quote "Markets will soar once investors can be confident that the days of runaway inflation are over". Plus you have the Fed Head Bostic saying "we have to be cautious" is over $2T a night cautious?…kek! You are so fugged!. See his comment in cap #4 at bottom of Ruble chart ‘Even firetrucks with sirens blaring slow down at intersections’- Not when it's a raging inferno they don't
P-A-N-I-C
Lagarde Says ECB WoThe European Central Bank (ECB) would not be rushed into withdrawing monetary stimulus as officials act to contain inflation running at almost four times their 2 percent target, ECB President Christine Lagarde https://taipeitimes.com/News/biz/archives/2022/05/25/2003778757
>>>/qrb/135802 U.S. Will Start Blocking Russia’s Bond Payments to American Investors
Housing sales fell off a cliff-plus add in interest rates on the upward trajectory and you have a recipe for carnage-however this can be softened because there will always be movement as people need to move for various reasons-by choice or not. This is the property markets coming apart-witness the heavy downward revisions to the previous 3 months of data-they do this all the time but this one is a doozey. Worthless spin doctors at the NAR can't shine this turd at all so prices will start to back off since there is now a documented increase in supply where that had been declining for a long time (hello phoney and fraudy MAC-we see what you did after the 2007 peak by sucking up abandoned homes to keep them off the market so prices remained elevated). >>>/qrb/135768 New Home Sales Decrease Sharply to 591,000 Annual Rate in April
The SPAC markets continue to disintegrate and before all these being 'accepted' as a vehicle these were like teh wicked-step child because if you had to that it was seen as not a good sign. DWAC just took advantage of the 'mania' an it at 43.90 -1.44 -3.18% about one hour before close. The list of the $1b put into DWAC is out but I can't get around the paywall but you see the results of the stock today above-the market makers are making everyone see that "it" doesn't care-DO NOT OWN THIS BECAUSE IT IS CONNECTED TO 45
Some notabruh HALO dives: Pinterest, Inc. 17.07-5.52 (-24.46%) and that is by no means done at over 4x daily avg volume-this is because SNAP warned below it's low-end guidance so C-L-U-B-B-E-D. If it was a tech Stock it SUCKED today-see below Winners/Losers
Trading HaltsSerial halted equity BGXX only one halt today and at 12.02-1.26 (-9.50%) and it is not even one week from it's IPO and started at $25.50 on May 17 and got to $48.08 the next day. Since then it has been limit down halted over 30x-good luck with that one. This IPO'd today MSPR 5.05-5.73 (-53.15%) Medicare Secondary Payer recovery rights
https://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts
Here is the Short Interest defined as the companies with the largest proportions of outstanding shares currently sold short. https://www.marketwatch.com/tools/screener/short-interest
Top winner/losers Dow, NAS, SP500, NASDAQ 100-focus on NAS because it is by FAR the most bloated of all
Top winner/losers-DOW https://markets.businessinsider.com/index/market-movers/dow_jones
Top winner/losers-NAS 100 https://markets.businessinsider.com/index/market-movers/nasdaq_100
Top winner/losers- SP500 https://markets.businessinsider.com/index/market-movers/s&p_500
Treasury complexSee Cap #3 Summary: Huge bid in bonds with Treasury yields crashing 15bps at the short-end. The 30Y Yield once again joined the rest of the curve back below 3.00%, and back below FOMC lows
See the 10 year having it's dandruff issues that started on April 14 >>>/qrb/135795 Solid 2Y Auction Stops Through Despite Plunge In Yields
So the paper still gets bought either way. The Dealers are having to buy less of these but that will change as the reality of holding this shit (and the non-counter-parties to the NYFRB can't just flip this back to them) catches up to the overall Bond market. They do the Reverse Repos so they can turn those back into the market as the receiving participants can just trade it back and forth using tons of leverage.
FOREX-US$, Ruble, Yen, Pound, EUROSee Cap#4 US $ down again and at 101.75 -0.33 -0.32% 30 minutes after Europe close-totally gonna see Muh Yen intervention(s) because……it's at 126.58-1.32-1.03% Jerry and the Boys at the NYFRB are helping that out fer sure. The Ruble having good day as our dollar drops 0.017505 +0.000433+2.54% and was over 0.18 just as it's HOD was 0.018018. Rubble muh ass Mr. Rubble does not agree…..the dollar ended at little chnaged from prior to Europe's clsoe
MetalsNice bump up for both Ag +0.23 +1.06% and Au +10.20 +0.55% for the morning session however both have had muh paper attacks via COMEX-quite a flurry of volume in it starting @ 9am est. Not big amounts (like yesterday) but it all adds up. Yesterdays COMEX #s can be seen here: >>>/qrb/135774 lb COMEX #s for Monday May 23rd 38% of daily total in one minute Au closed at +13.40 +0.72% and Ag at +0.32 +1.49% so this decline the Gold Silver ratio: 84.421−0.474 (−0.56%) or slightly moar than 1/2 oz of Ag less today. No bigggie-GET YOU SOME.
Oil/EnergyWTI is going nowhere -0.40(-0.36%) (APT data later) and still 'on hold' for muh Russian sanctions and Aramco IPO-you guys better hurry up with that-time is a wasting for ya. It made it to just over $111 and then nuffin but back down. Natural gas continues it's rise from yesterdays FERC supply fear pron. To $9 as predicted (and just under now). Someone dumped a bunch of contracts on it about three hours ago (current time at this observation is 11am est) as it was trying to pass $9 and dropped it to $8.75. This haz moar to do with the Oil/Gas sanctions they do not want then anything else >>135787 Hungarian Prime Minister Viktor Orban declared a wartime state of emergency An since MOL spent billions in infrastructure to process URAL crude that is why they only want the sanctions to apply to pcean deliveries-well of course a lndlocked country is gonna say that but they are kinda screwed if they shut i toff so no wonder they are fighting-GOOD FOR THEM >>>/qrb/135799 Hungary’s MOL prepares to move away from Russian oil
>MOL has spent decades and billions of dollars on infrastructure to process Russian Ural-type crude
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