Morning meltdown 100
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It can’t be too comforting to the Fed that the same banks that cratered the global economy in 2008, and required a mind-blowing $29 trillion bailout, have a lot less capital than they had one year ago.Īs of last Friday’s closing prices, five U.S. (after the stock market closes) it will announce the results of its stress tests of the G-SIBs, the Global Systemically Important Banks. The Fed has also announced that on Thursday of next week, June 23, at 4:30 p.m. Stocks are developing a habit of tanking one day after Fed Chair Jerome Powell holds his FOMC Wednesday afternoon press conference, so watch out for stock market activity this Thursday. (An inversion signals a rising recession risk.)Īll of this comes as the Fed has signaled that it will announce another interest rate hike this Wednesday, following the two-day meeting of its Federal Open Market Committee (FOMC). (ET) this morning at a yield of 3.27 percent. The 5-year Treasury note has spiked to yield 3.38 percent, a 50-basis point increase in a month, leading to an inverted yield curve against the 10-year Treasury note, which is trading at 9:01 a.m. (ET) this morning, Dow futures are down 553 points Bitcoin futures have lost 17 percent of their value on the news that cryptocurrency lender, Celsius Network, has frozen withdrawals. Welcome to Monday morning and market hell.Īs of 8:47 a.m.