Monday 13 March 2023

Moral Hazard Monday

US equity indexes mostly closed weak, SPX -5pts (0.1%) at 3855. Nasdaq comp' +0.4%. Dow -0.3%. The Transports settled -1.6%. R2K -1.7%. 

SPX - daily

VIX - daily


Equities opened significantly lower to break a new cycle low of sp'3808. There was a rebound to print 3905, but cooling back to settle at 3855.

Volatility was mixed, the VIX printing 30.81, if cooling back to settle +6.9% to 26.52.

"Your deposits are safe" - El Presidente
As for 'Moral Hazard', that line was crossed many... many years ago. Today was just another step along the dark and twisted path.


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