And September 2nd marked the most stretched equity market bubble ever known to mankind.https://t.co/nPy29YhuQF
— Jack Rodeghier (@glarustrading) September 9, 2020
Deutsche Bank says the best run for stock and bonds in 160 years is ending https://t.co/0SF4diKo17
— Win Smart, CFA (@WinfieldSmart) September 9, 2020
I’m not sure I like the look of this HYG chart. A broken rising wedge w/ negative RSI divergence? Let’s see. pic.twitter.com/gjxm1bTruC
— Julien Bittel, CFA (@BittelJulien) September 9, 2020
Think of the options market as an insurance market. When stock prices are rising, the need to buy insurance is reduced, so premiums should fall. This time, however, the VIX remained elevated as the S&P 500 hit a new high, signaling incredible stress in the options market.
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— Jim Bianco (@biancoresearch) September 9, 2020
Michael Novogratz on the Market Sell-Off: I Think the Bubble Popped
The market extends its losing streak from the end of last week. The Nasdaq is down around 8 percent over the past five trading sessions. And Tesla stock is down nearly 30 percent. Michael Novogratz, Galaxy Digital Founder and CEO, joins ‘Closing Bell’ to talk about his thoughts on the sell-off.
Gundlach Says High Yield Bond Defaults May Almost Double
High-yield bond default rates may double as companies struggle with a protracted economic downturn even as the Federal Reserve props up valuations, said Jeffrey Gundlach. The investment grade corporate debt market has skewed toward lower quality BBB- rated debt, but if just 50% of that…