As we transition from Wednesday overnight markets to Thursday morning the great farce continues, how much longer I wonder? We’re on our way of entering day IV. Come jump right in, the water is fine! All is well and fine again! Come with your hard earned cash in hand and fist to invest, now is a real good buying opportunity!
Wednesday afternoon ended with this.
The plunge protection team at the Federal Reserve and central banks around the world tried some last minute shenanigans in the last half hour of the day but to no avail as the magic bullets they tried shooting at the market were entirely duds thus being entirely ineffective.
Of course one wonders what would happen if that window desk at the REPO Funds weren’t injecting hundreds of billions of dollars into Wallstreet daily just how much more economic pain there would be if they didn’t. So far Jerome Powell and Steve Mnuchin won’t comment from the Federal Reserve to explain on the subject.
Will papa Powell or Trump save the markets tomorrow? Will they cut another 82 bps concerning rates tomorrow, Friday, or next week? Like it even matters at this point, it doesn’t.