For the 6th day in a row, the fact that the US equity market is ‘open’ has been a panic-buying event for “investors” – no matter what the overnight trading activity or news…
Another day, another vertical ramp at the open to tag stops…
Is this what human traders do? Perhaps now that the BTFD no matter what doctrine has been written into the constitution (no matter what fundamentals are doing).
Bonds and FX still are not buying whatever stocks are drinking…
Treasury yields are testing post-payrolls lows wioth 10Y below 1.70% once more – crushing Fed credibility.
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