Today I cover the complete meltdown seen overnight in the futures markets despite the Fed's rate cut to zero per cent and the announcement of $700 billion in new quantitative easing or QE.
The Dow, S & P and Nasdaq 100 futures have been limit-down all night and will probably remain so until the markets open officially at 09:30 am New York.
Gold and silver initially spike higher but have come off somewhat but, in my opinion, still remain the ultimate monetary havens. By that, I mean gold and silver in real or physical form and not their paper representations like futures and ETFs.
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The bell has rung around the world, the markets are selling every asset that has any value to meet paper market margin calls.......be ready for the market to close today.
Posted via Steemleo
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Kuroda is more panic than Powell because the interest rate gap between Yen and USD is pretty narrow now. He has no means to stop Yen going up versus USD but stating " We increase buying more ETF."
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