sp'daily5
VIX'daily3
Summary
US equities opened significantly lower, pressured via the US 10yr/2yr inverting, as the mainstream were again worried about an eventual recession.
Trump chimed in...
... and shortly later...
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The afternoon saw the Trump continue...
... and it remains a historic irony, if not tragedy, that the US President cites Payne, rather than Schiff.
The video quality is lousy, but see t+5mins..
Payne's big pick for 2008...
... Washington Mutual, which effectively imploded, with the remains picked up by JPM. I hope that at least the financial historians of the 22nd or 23rd century will see things for how they really were.
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Volatility naturally spiked, with the VIX printing 22.71, and settling +26.1% at 22.10. S/t outlook favours choppy upside into opex to the sp'2890/2900s. More broadly, cooling to at least 2800, if not the 2730/20s.
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Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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