[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s breakdown in the UK Gilt (bond) market, during which the 30-year gilt rose above 5%, a level not seen since 2002, according to ZeroHedge, the Bank of England capitulated today and reversed course, AKA they pivoted from hawkish to dovish. It recognized “significant dysfunction” in the bond market and “material risk” …
Homing In On The June Lows
[Chart courtesy of MarketWatch.com] Moving the markets Equities took in on the chin again with the major indexes notching another loss, as interest rates rose among unrest in a variety of global currencies. The British Pound (BP) had at one point fallen 4% against the Dollar but came off its lows on rumors of the Bank of England having to …
ETF Tracker Newsletter For September 23, 2022
ETF Tracker StatSheet You can view the latest version here. GETTING SLAMMED [Chart courtesy of MarketWatch.com] Moving the markets Thanks to a last hour comeback, the markets were able to avoid a far worse outcome, as the Dow was down over 800 points, which was its low for the session. Still, the major indexes, and the broad market, got …
Crashing Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets Up until the Fed’s announcement on interest rates, the major indexes marched in sync above their respective unchanged lines sporting modest gains. Just minutes before Powell’s appearance, fear must have gripped the trading community, and we sold off sharply, hovered for a while, after which a rebound rally took us back into the …
Fed Anxiety Spooks Markets
[Chart courtesy of MarketWatch.com] Moving the markets It appeared that Fed anxiety ahead of its key rate decision tomorrow had traders and algos on edge, with the Dow plunging some 400 points mid-session. We recouped some of these steep losses during the last hour, but negative sentiment prevailed due to nobody wanting to have overexposure in equities. A 0.75% rate …
Creeping Higher
[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes were hugging their respective unchanged lines for most of the session, a last hour breakout allowed equities to close moderately in the green after the thrashing of last week. It was aimless meandering for the most part with the Dow trading in a range from -260 points to +180 …