Chinese property developer #CIFI Holdings see massive sell-off on media reports of missed debt payment. pic.twitter.com/NwsIRBnSvK
— Cathy Yuan Zhang (@cathyyuanzhang) September 28, 2022
GLOBAL MARGIN-CALL$AAPL signals a “whoops” on demand.
I have never seen anything like this on a Global scale in 22 yrs in the chair.— Michael Taylor (@Mike_Taylor1972) September 28, 2022
*APPLE DITCHES IPHONE PRODUCTION INCREASE AFTER DEMAND FALLS $AAPL
🩸🩸🩸🩸
— Gurgavin (@gurgavin) September 28, 2022
The UK Pension margin call has been on the radar and in the press. https://t.co/EwCKvPwsHg
— G o B Macro (@MattGarrett3) September 28, 2022
Inflation is still sticky.
That’s the biggest issue for the markets.
7.9 or 8.1% doesn’t change shit
— HOZ (@MFHoz) September 27, 2022
The current drawdown in the S&P 500 is nearly 24%, making it the 10th worst in history going back to 1928.
All while the number of weeks stocks have lost money as a percentage of the year ranks second in history after 1931.
WAKE. THE. FUCK. UP.$TLT $SPY pic.twitter.com/ptwrT6iyVC
— Michael A. Gayed, CFA (@leadlagreport) September 28, 2022
Good Morning from Germany, where consumers are in depressed mood as disposable incomes fall. GfK German Consumer Confidence slumps to -42.5 in Oct vs -39 expected. Income expectations component plunged by 22.4 points to record low of -67.7, implying reduction in consumer spending pic.twitter.com/b0hfH9jmeD
— Holger Zschaepitz (@Schuldensuehner) September 28, 2022
You can't hide in investment grade Corporates
Duration hit 💥
Spread hit 💥 pic.twitter.com/dpfYnuccD9— Win Smart, CFA (@WinfieldSmart) September 28, 2022
#HangSeng Index hit 11-year low.
Hang Seng China Enterprises Index hit 14-year low.
Metal companies, property developers and automakers are slumping. pic.twitter.com/jW4vu9MKIX— Cathy Yuan Zhang (@cathyyuanzhang) September 28, 2022
🌎 I'm sure that central bankers don't realize the size of ongoing wealth destruction shock.
*Too busy to focus on lagging indicators. pic.twitter.com/S9BicqVlQe— Christophe Barraud🛢🐳 (@C_Barraud) September 28, 2022
— Win Smart, CFA (@WinfieldSmart) September 28, 2022
How Far Could Stocks Fall?: Rickards
History shows that the Fed will overshoot. There won’t be any “soft landing.” That damage may help Powell get to his inflation target. But it will increase unemployment and destroy stock markets along the way. That’s if all goes according to plan. The actual scenario could be worse. Market investors are not ready for this. But you should be.