FAST FIVE: Stocks Suffer Worst Streak In 8 Years As Trade Tempest Sparks Rates Rout
Hope of a Chinese trade deal has collapsed.
But the algos remain ever alert to a bounce on optimistic headlines (h/t @jsmauro13) Semis suffered their worst week of the year (down 3 weeks in a row – tumbling over 16% in that time – the worst 3-week loss since Oct 2008) Technology stocks overall were whacked.
Treasury yields took a breather today (and a half day ahead of Memorial Day) after a breathless plunge midweek.
Finally, The Fed has a problem – how's it going to be able to support the market when investors are already pricing in 45bps of rate cuts for 2019.
Propane prices have plunged this month, reaching their lowest level in more than 2 1/2 years.