Unemployment Numbers Come in Worse Than Expected, Indexes Turn Green After Regulators Announce Further Cuts to Volker Rule at 10:00am

Following yesterdays 700 point drop that occurred in response to news of a sudden ‘record’ uptick in new cases of coronavirus in Florida, Arizona and Texas, futures were down 250 points going into the open as traders digested worse than expected unemployment numbers.

But as is usual these days, the markets were once again saved by conveniently timed PR when news broke that the FDIC would be making further cuts to the controversial Volker Rule established back in 2010 to combat the reckless trading activities of Wall Street trading houses that precipitated the carnage unleashed by the financial crisis of 2008.. Read more

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