Good morning MARKETS GETTING DESTROYED ! Treasury yields inverted

[HJCane]

DOW down nearly 2% 592 points
S&P 500 down 2.3% 87.5 points
Nasdaq down 2.8% 327 points

BITCOIN down over $5000 to 24K per coin. I wish you crypto guys would explain this to me.

Crude and Gold down.

Treasuries the 2 year is now yielding 3.19% HIGHER yield than the 10 year which is yielding just under 3.1% this STRONGLY signals recession.

WE ARE IN DEEP DEEP TROUBLE in the economy and they are asleep at the wheel in our Government.

 

[NO.SHORECANE]

" We have the most robust recovery in the history of the world"

 

[HJCane]

" We have the most robust recovery in the history of the world"

The world the world world world. You left out a few.

 

[CaneSniper]

Damn HJ you beat me to that.

 

[ddimaggio]

The world the world world world. You left out a few.

IT’s Exxon’s fault .
It’s Putin’s fault
It’s COVID’s fault
Blah blah blah
It was triggered largely because of reckless spending and the psychological effects of an administration that hates fossil fuel and corporations. The confidence index’s are in the tank because people don’t have a belief that this regime is on their side. Rather they see a regime focused on wealth redistribution, pronouns, “ diversity,” , transgender rights and $80k cars with a 200 mile max range .
It’s a travesty
They are clueless

 

[NO.SHORECANE]

The world the world world world. You left out a few.

LOL!

 

[dolcane]

DOW down nearly 2% 592 points
S&P 500 down 2.3% 87.5 points
Nasdaq down 2.8% 327 points

BITCOIN down over $5000 to 24K per coin. I wish you crypto guys would explain this to me.

Crude and Gold down.

Treasuries the 2 year is now yielding 3.19% HIGHER yield than the 10 year which is yielding just under 3.1% this STRONGLY signals recession.

WE ARE IN DEEP DEEP TROUBLE in the economy and they are asleep at the wheel in our Government.

Seems interesting that everything is down in lockstep. Real estate seems to be the exception...for now, at least.

I don't understand why gold, a traditional hedge on inflation is not moving higher. Also, Bitcoin, a (supposedly) new hedge, is down as well.

 

[dolcane]

IT’s Exxon’s fault .
It’s Putin’s fault
It’s COVID’s fault
Blah blah blah
It was triggered largely because of reckless spending and the psychological effects of an administration that hates fossil fuel and corporations. The confidence index’s are in the tank because people don’t have a belief that this regime is on their side. Rather they see a regime focused on wealth redistribution, pronouns, “ diversity,” , transgender rights and $80k cars with a 200 mile max range .
It’s a travesty
They are clueless

I agree with most of what you said, with exception to the clueless part.

I think they know exactly what they are doing, but, they cannot say it out loud.

 

[ddimaggio]

Seems interesting that everything is down in lockstep. Real estate seems to be the exception...for now, at least.

I don't understand why gold, a traditional hedge on inflation is not moving higher. Also, Bitcoin, a (supposedly) new hedge, is down as well.

Bitcoin is a joke .
Well I don’t really understand it , but it seems like a meme investment. Be cool and buy it
It’s not a producing asset
Neither is gold . As Warren Buffet says , you spend money to dig it up to place it in a vault . How is that an investment
Bitcoin is a double whammy , it has no value and is tied to actual currency in assessing value
So inflation is killing it too
It’s just the bigger fool theory, who will pay a higher price ?

 

[ddimaggio]

I agree with most of what you said, with exception to the clueless part.

I think they know exactly what they are doing, but, they cannot say it out loud.

I agree . It’s intentional
My mistake

 

[dolcane]

Bitcoin is a joke .
Well I don’t really understand it , but it seems like a meme investment. Be cool and buy it
It’s not a producing asset
Neither is gold . As Warren Buffet says , you spend money to dig it up to place it in a vault . How is that an investment
Bitcoin is a double whammy , it has no value and is tied to actual currency in assessing value
So inflation is killing it too
It’s just the bigger fool theory, who will pay a higher price ?

I agree. Bitcoin seems like a high tech version of beanie babies.

Gold is also not an investment either. It has no yield. But, in the past, it seems to have increased in value during periods of inflation.

 

[remma]

Seems interesting that everything is down in lockstep. Real estate seems to be the exception...for now, at least.

No worries, It's time will come......

The US housing market is heading toward the 'most significant contraction' since 2006​

The U.S. housing market is in the early stages of what one national economist says is the biggest slowdown in over 15 years.

But that doesn't mean housing prices are about to hit a death spiral.

What's happening: "The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006," Len Kiefer, deputy chief economist at Freddie Mac, tweeted Thursday.

"It hasn't shown up in many data series yet, but mortgage applications are pointing to a large decline over summer," Kiefer said, noting home purchase applications are down 40% from a peak last year.

 

[dolcane]

No worries, It's time will come......

The US housing market is heading toward the 'most significant contraction' since 2006​

The U.S. housing market is in the early stages of what one national economist says is the biggest slowdown in over 15 years.

But that doesn't mean housing prices are about to hit a death spiral.

What's happening: "The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006," Len Kiefer, deputy chief economist at Freddie Mac, tweeted Thursday.

"It hasn't shown up in many data series yet, but mortgage applications are pointing to a large decline over summer," Kiefer said, noting home purchase applications are down 40% from a peak last year.

Higher mortgage rates will certainly have an influence. Adding a couple of points to a mortgage rate will stiffle the "house hopping" segment of the market.

I've spoken to a few people lately that realize they are sort of locked into their current property because they have a mortgage rate in the 3+% range.

 

[thedonaldWYO]

Seems interesting that everything is down in lockstep. Real estate seems to be the exception...for now, at least.

I don't understand why gold, a traditional hedge on inflation is not moving higher. Also, Bitcoin, a (supposedly) new hedge, is down as well.

dolcane: I do not see things crashing as badly as they did in 2008ish with the real estate market, but I do see a plethora of short sales that will begin to happen once the banks (if they have not done it yet) start asking for the monthly payments. I am amazed at some of these mortgage banks that are still allowing home owners to furlough their payments with covid being the excuse.

 

[dolcane]

dolcane: I do not see things crashing as badly as they did in 2008ish with the real estate market, but I do see a plethora of short sales that will begin to happen once the banks (if they have not done it yet) start asking for the monthly payments. I am amazed at some of these mortgage banks that are still allowing home owners to furlough their payments with covid being the excuse.

I don't have any specific knowledge of delinqency rates, so I can't comment. I have seem some data showing consumer debt trended lower turning COVID.

They job market is still strong, so that's a positive. You need a job to pay your mortgage, although, higher fuel and food prices is putting the pinch on family budgets.

My daughter told me yesterday, that she has cut back on visiting out of town friends because of gas prices. And, I'm talking about people who only live 30 miles away.

 

[Kinggeorge3]

Seems interesting that everything is down in lockstep. Real estate seems to be the exception...for now, at least.

I don't understand why gold, a traditional hedge on inflation is not moving higher. Also, Bitcoin, a (supposedly) new hedge, is down as well.

This time with the inflation they are also raising interest rates which makes the dollar stronger. The stronger dollar brings gold down and the anticipated increase in Bitcoin was based on a weak dollar, but since we are raising interest rates more than anyone else the dollar as gone up recently. This is going to affect Bitcoin more than gold.

 

[HJCane]

Now down over 4% across the board.

 

[dolcane]

Just filled up my tank. $88!

 

[bonefishricky16]

Commies are taking us down purposely from within! #truth

 

[El Cubano]

DOW down nearly 2% 592 points
S&P 500 down 2.3% 87.5 points
Nasdaq down 2.8% 327 points

BITCOIN down over $5000 to 24K per coin. I wish you crypto guys would explain this to me.

Crude and Gold down.

Treasuries the 2 year is now yielding 3.19% HIGHER yield than the 10 year which is yielding just under 3.1% this STRONGLY signals recession.

WE ARE IN DEEP DEEP TROUBLE in the economy and they are asleep at the wheel in our Government.

This administration doesn’t have a clue.. We are in big trouble and half way to go to get this idiot out of office..

And to think they put this clown in office because of Trump speaking his mind..
How weak are we as a nation when we can’t hear criticisms from the top.
Now we are paying the price for weak leadership …

 

[grbcane]

Seems interesting that everything is down in lockstep. Real estate seems to be the exception...for now, at least.

I don't understand why gold, a traditional hedge on inflation is not moving higher. Also, Bitcoin, a (supposedly) new hedge, is down as well.

Inventory is a major factor in real estate in some areas. We thought about selling our house, we had to factor that buying would negate what we earned selling the house.

The kicker is we’d have to settle for a house that we would have gotten into a bidding war to purchase.

We both would like to replace our cars, but we’re holding off because we don’t want to over pay.

 

[ZEKEMUG]

I remember a guy saying if you elect Biden Gas will be $7 or $8 and he’ll destroy your savings and 401K. Have trouble remembering his name maybe CEMS, CD, Raoul or Miami could post it. Thanks in advance.