To sum up: China car sales crash by most on record (boom goes the overseas growth meme), US existing home sales plunge most in 6 years (boom goes the domestic housing strength supporting consumption meme), Williams and Lockhart go full hawk-tard (positing April as “live” and suggesting everything is hawkishly awesome), and one of our most succeesful ‘innovative’ tech firms unveils theworst product launch ever… and investors buy stocks with both hands and feet…
Futures show the flip-floppiness of the day best…A ramp in the afternoon session of China (thanks to eased margin requirements) which gave way as Europe traded weak then was slammed by Fed’s Williams “April live” comments… a ramp back into the US open was then slammed by crappy housing data… which the machines ramped into Europe’s close… Then Fed’s Lockhart reiterated “April live” warnings but early weakness just spurred USDJPY to ignite momentum in stocks to overnight high stops…
This post was published at Zero Hedge on 03/21/2016.
Follow on Twitter
Recent Comments