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Anonymous ID: e6b59d April 8, 2020, 1:10 p.m. No.8725108   🗄️.is đź”—kun

Market Report

 

Stocks surged on Wednesday and another large Market On Close Imbalance announced of $2B-see cap#3 volumes remain well below daily averages, after Sen. Bernie Sanders dropped out of the presidential race, relieving some of Wall Street’s political concerns amid the economic crisis stemming from the coronavirus. But no refunds for you Bernie Bro's!!. The Federal Open Market Committee released the meeting minutes from its March emergency meeting. The summary showed “all participants viewed the near-term U.S. economic outlook as having deteriorated sharply in recent weeks and as having become profoundly uncertain. This is just the backup to the rate cuts done in front of the schedule meeting. Dollar index is now above 100-but just-see cap #5

 

Oil hit the "up" button-see cap #4 as Algeria's oil minister floated the pretty mucj already known plan to cut WW oil production by 10m bpb combined-probably trotted him out to squeeze the oil shorts. This had the effect of nuking the Oil ETF USO limit up-so it was halted to give it time to "cool" off. It resumed shortly after. The levered Oil ETF's are unmentioned of course. Also on Wednesday, the U.S. Energy Information Administration said that for the week ending April 3 U.S. inventory increased by 15.2 million barrels for the week ending April 3. Analysts had been expecting a build of 9.67 million barrels, according to estimates from FactSet. Treasury yields meandered upwards slightly all day but muh 30yr auction priced out just 0.5bps above last month's record low yield of 1.32%, and also stopped by 0.5bps through the When Issued. Of note: Primary Dealers were left with 22.6%, a slightly higher than average number, and one which Dealers will promptly make sure eases as they sell the long end back to the Fed-all this ends up bparked at muh FRBNY is a few days so it's just a hold till the FRBNY buys it. NASDAQ CEO came out and basically begged for moar IPO's as that has not been the cash-cow it once was. The NASDAQ CEO Adena Friedman (no surprise there!) also sits on theBoard of the FRBNY so it's just a co-ordinated attempt to pacify everyone as they trot out the "it will improve in the second half of the year narrative"-this has ALWAYS been the mantra these people produce so don't think I'm pissing in the soup-they have ZERO idea so they always say it will be better later. All the Wall st. nutsacks do this.

 

In other Treasury news see this:

and since they "want" $25B it's only fair to allow an examination of books

U.S. Treasury wants details on airline debt, liquidity, loyalty programs

Airlines’ daily cash burn rates, when they expect to run out of cash and their best estimates for projected wages and benefits between April 1 and Sept. 30 are among details Treasury has requested as it reviews applications for government aid, they said. Treasury has also requested information on the value and historical cash flow of airlines’ loyalty programs, as well as an overview of all unencumbered assets such as aircraft, engines and spare parts.

https://www.reuters.com/article/us-health-coronavirus-airlines-usa-exclu/exclusive-u-s-treasury-wants-details-on-airline-debt-liquidity-loyalty-programs-sources-idUSKBN21Q23G

 

Some additional headlines

LA area Port Traffic Down Year-over-year in March

https://www.calculatedriskblog.com/2020/04/la-area-port-traffic-down-year-over.html

 

and this right after the CEO and CMO cashed out about $50m combined

Zoom sued for overstating, not disclosing privacy, security flaws

https://www.reuters.com/article/us-zoom-video-commn-privacy-lawsuit/zoom-sued-for-overstating-not-disclosing-privacy-security-flaws-idUSKBN21Q10V

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

https://finance.yahoo.com/quote/%5EDJI?p=^DJI