RSS feedDow
’The POMO effect, charted
Permanent open market operations (POMO) by the Fed restarted on August 17, 2010.
Those who are reluctant to admit that these operations may have resulted in an almost instant asset boost via dollar devaluation worldwide,
Fed up
And the early US market take on the Federal Reserve’s latest policy shift was…
Oh dear. European bourses, by comparison, had already given up the fight:
All this after USDJPY ploughing a 15-year low plus some deflated Treasuries.
M-m-m-meltdown
Gloom and doom on Thursday for stock markets after poor US jobs and PMI data:
Cheer up — the double dip might never happen. Well, on second thought…
So far, it’s a bad start to America’s trading day
A grim open for US markets on Friday, after earlier European gloom. Flashes, via Reuters:
RTRS-S&P 500 DOWN 10.77 POINTS, OR 1.01 PERCENT, AT 1,060.82 AFTER MARKET OPEN
RTRS-NASDAQ DOWN 30.39 POINTS,
The dead, dead cat bounce
Oh dear. Equities got ugly again on Friday.
First, the FTSE 100, which dropped 200 points before climbing back to -175 at pixel time, as this chart shows:
Elsewhere, via Reuters:
RTRS- NASDAQ FALLS 3 PCT
RTRS-S&P 500,
Rage against the machine, the soundtrack
Well, this brings a whole new meaning to open outcry. With a tip of the hat to Zero Hedge, these were the sounds from the S&P 500 pit, as the machines rose up and the Dow plunged (click through to listen):
RIP oil fundamentals?
Remember the days when hurricanes and geo-political events made oil fly?
Well, according to Olivier Jakob at Petromatrix, those days — for the time being at least — should be forgotten. The correlations between the Dow,
The Susan Boyle factor
What do equity rallies have in common with the whizzing around in cyberspace of the latest Youtube sensation — a clip of Britain’s Got Talent contestant Susan Boyle wowing the judging panel of Simon Cowell,