- ‘Helicopter Money’ Sparks Bond Backlash, Stocks Bounce On Fed Bailout, But Bank Liquidity Worsens
by Tyler Durden, https://www.zerohedge.com/
US futures traded limit up overnight, plunge back to the lows of the day, soared back above overnight highs, dumped again, ripped again, then slumped… 1000s of Dow points in the swings on the back of various political and monetary headlines of ever-increasing bailouts (and warnings)… that is malarkey!
So, some (brief, perhaps) exuberance in stocks. BUT…
Despite The Fed’s CPFF, banking system liquidity worsened… AND…
‘Helicopter Money’ sent the the 10Y Yield soaring back above 1.00% today as yields exploded 30bps higher…