The virus has begun spreading among the old again. Banks fall under presure because more than $2 trillion worth of transactions were flagged as possible money laundering. Pompeo announces snapback sacrions on Iran while other nations question it after US exited the nuclear accord. Bloomberg Adam Haigh reported "The latest CFTC data, released Friday, showed how speculative positioning in Nasdaq e-mini futures has climbed to the most bearish level since 2008".
The Dollar weakening seems to be going on for a while since the Fed announced that they will be exceeding the 2% inflation target. However, the trends in the ten year yield shows no fear in investing money into the stock market. Although the economy is in the worst shape in the past decade, and the pressure is going to be on the middle-class, the stock market is near all time highs and probably will surpass that in Oct.
Airlines got a $25 billion bail out in the first round and the second round seems to be coming soon. The airlines have been buying their own shares in past couple of years and somehow the government doesn't want to put them in a situation where, they would liquidate their assets! This is where middle-class is paying for CEOs.
Let me know what you think.
Keep smiling and stay charitable.
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