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Stocks Surge As Traders Cheer "Quad Witching" Ides Of March
Global stocks rebounded and US equity futures jumped overnight, ignoring concerns over a delay in the Trump-Xi meeting to at least April and North Korea's threat to resume nuclearization, after a report that U.S.-China trade talks were making progress as fears about a global slowdown faded (even as China's latest data showed a continued slowdown) and the UK voted to reject a no deal Brexit. European stocks just printed at session highs, rising 0.8%, alongside U.S. index futures which were trading at 2,824, above the 2,817 key resistance level, as emerging-market shares advanced, even as the dollar and Treasuries held steady.
The question, as both Nomura and Goldman warned, is what happens after today's "Quad Witching" Ides of March ends: as a reminder, today is “quadruple witching” Friday, when contracts for stock-index futures, stock-index options, individual stock options and individual stock futures all expire. The risk is that both prior "witches" took place just ahead of major reversals in the S&P, the first in September, just as the market peaked, the second in December, just before the trough.
For now, however, it is shaping up as another impressive week for US stocks, which have not only erased all of last week's losses but are set for their second best week of the year.
Live Gold Price
High: 1,305.30
Low: 1,296.80
+5.80 +0.45%
rest at link
https://www.zerohedge.com/news/2019-03-15/stocks-surge-traders-cheer-quad-witching-ides-march
https://www.bloomberg.com/markets/stocks/futures
https://www.dailyfx.com/crude-oil
https://www.kitco.com/charts/livegold.html
This habbened two day's after on the same daily flight.
https://en.wikipedia.org/wiki/Alaska_Airlines_Flight_261
China Premier Vows No Massive Stimulus As Beijing Launches Massive Stimulus
When it comes to China, the past decade revealed two things beyond a shadow of a doubt: i) all of the country's economic data is utterly meaningless as it is entirely fabricated (in this measure it is not much different from other developed nations), goalseeked to fit a specific political narrative, and ii) Beijing has an annoying Trotskyite habit of doing precisely what it vows not to do or accuses others of doing.
A good example of the latter was again observed last night, when Premier Li Keqiang said that China will stick to its current targeted economic support strategy and resist the temptation to engage in large-scale stimulus like quantitative easing or a massive expansion in public spending.
"We certainly need to take strong measures to face the downward pressure," Li told a news conference Friday at the close of the annual National People’s Congress session in Beijing. "An indiscriminate approach may work in the short run but may lead to future problems. Thus it’s not a viable option. Our choice is to energize market players."
This is ironic because just over a month ago, China quietly launched a quasi-QE program in the form of the PBOC buying perpetual bonds issued by local banks, to flood the system with liquidity and achieve the same end goal as more conventional quantitative easing, and which Rabobank described as a means to keep China's "Ponzi scheme afloat."
Just as ironic was Li's vow not to flood the economy with stimulus, read new debt, one month after the PBOC flooded the economy with a record amount of new debt. Of course, this being China, nobody inside the country will dare to call out Beijing on its hypocrisy for fears of immediate incarceration, as for outside economists, all they care about is to make sure that China will continue its massive reflation of both the domestic and global economy, just to make sure their own optimistic forecast are met, even it means even more pain down the road.
rest at link
https://www.zerohedge.com/news/2019-03-15/china-premier-vows-no-massive-stimulus-beijing-launches-massive-stimulus
or something to that affect.
you pay now solja!