NYSE margin debt fell $11.9 billion month-over-month in February to $435.8 billion. This was the 10th month since the $507.2-billion peak last April. Margin debt has dropped 14 percent since that peak (Chart 1). For some historical perspective, in 2000 … Continued
Later today, markets will learn if, when it comes to the so-called Fed put, it is game as usual or winds of change are beginning to blow. The Fed put refers to a practice of reducing interest rates to deal … Continued
Equity bulls seek to justify why Nasdaq of 2015 is not as bubbly as was Nasdaq of 2000 Bubble elsewhere – in VC, in biotech, and most importantly, in easy money Excesses driven by ‘this time is different’ psychology never … Continued
Economy was probably not reason why QE2/3 got launched, stock sell-off was One month after QE1/2 ended, stocks began to act sick, prompting Fed into action Year-end rally may or may not happen; impending sell-off to test Fed’s pain threshold … Continued