Here’s a fun Tweet:
David Rosenberg @EconguyRosie
Word to the wise. We have endured two 10% corrections in the same year for all three major averages.
This has only happened in 1973, 1974, 1987, 2000, 2001, 2002 and 2008. All but 1987 signalled recession, but that wasn’t a pretty picture either.
Also Libor is blowing out:
That extra 20 basis point rise in October is looking ominous. Don’t forget., roughly $350 trillion of bonds, loans and derivatives are linked to LIBOR.
Don’t worry, I’m sure nothing bad could happen as rates spike on such a monster pile of claims and bets. /s