jtssrx Posted March 12, 2020 Share Posted March 12, 2020 Stock market attempts to claw back from Thursday depths after Fed announces 'big bazooka' to help ease Treasury market problems 17 Published: March 12, 2020 at 1:15 p.m. ET By Mark DeCambre U.S. stocks bounced off Thursday lows after the Federal Reserve announced that it would offer $505 billion in a key area of the short-term funding market to help cure dislocations in Treasury trading, amid growing coronavirus anxieties. The measure is part of a broad package of easing measures. The Fed said it would offer $500 billion in a three-month repo operations on both Wednesday and Thursday. It also said it would offer $500 billion in a one-month repo operation tomorrow. In addition, the New York Fed added it would conduct one-month and three-month operations for $500 billion every week for the remainder of the month. The S&P 500 index SPX, -5.77% was off 4.7% at 2,613, but had been at a low of 2,500.65, while the Dow Jones Industrial Average DJIA, -6.04% was off 4.9% at 23,395, after hitting a nadir at 21,297, on track for its worst percentage loss since the 1987 crash at that point. Experts on CNBC described the action by the Fed as a "big bazooka," or at least an opening salvo in the central bank's attempt to help alleviate market dislocations, amid the COVID-19 outbreak. The Fed is expected to meet next week in a two-day meeting March 17-18, where it is expected to cut federal-fund rate, after already delivering an emergency cut on March 3--reducing rates by a half a percentage point. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 12, 2020 Share Posted March 12, 2020 I'm hoping we bottom out around 15,000 on the Dow. Good time to push the chips in heavy. 2 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 Well Ben did ask for it. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 Just now, Matt said: I'm hoping we bottom out around 15,000 on the Dow. Good time to push the chips in heavy. Actually you don't. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 12, 2020 Share Posted March 12, 2020 2 minutes ago, ArcticCrusher said: Actually you don't. Yeah no shit. People need to stop acting like super investor types. A really bad drop could bring alot of years of pain. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 Just now, Anler said: Yeah no shit. People need to stop acting like super investor types. A really bad drop could bring alot of years of pain. It will wipe out pensions as well, you know the ones that are supposed to be guaranteed. Companies will go bankrupt. People will lose their jobs. The stupid is pretty strong. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 12, 2020 Platinum Contributing Member Share Posted March 12, 2020 1 minute ago, Anler said: Yeah no shit. People need to stop acting like super investor types. A really bad drop could bring alot of years of pain. This. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 12, 2020 Platinum Contributing Member Share Posted March 12, 2020 Just now, ArcticCrusher said: It will wipe out pensions as well, you know the ones that are supposed to be guaranteed. Companies will go bankrupt. People will lose their jobs. The stupid is pretty strong. Yep. People think 2008 was bad. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 12, 2020 Share Posted March 12, 2020 6 minutes ago, ArcticCrusher said: Actually you don't. Sure do. I'm 40. Playing a LONG game. 2008-2009 was an economic gift from the heavens. The market is still trying to price in uncertainty around CV and is almost bound to over-correct. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted March 12, 2020 Share Posted March 12, 2020 3 minutes ago, ArcticCrusher said: It will wipe out pensions as well, you know the ones that are supposed to be guaranteed. Companies will go bankrupt. People will lose their jobs. The stupid is pretty strong. Yeah thats what I am saying. "Ima get a home equity loan on muh house and throw it all in the market at the bottum!" When your broke ass dont have a job youll be needing that money! Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 Just now, Matt said: Sure do. I'm 40. Playing a LONG game. 2008-2009 was an economic gift from the heavens. The market is still trying to price in uncertainty around CV and is almost bound to over-correct. No you don't get it, not one bit. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 1 minute ago, Anler said: Yeah thats what I am saying. "Ima get a home equity loan on muh house and throw it all in the market at the bottum!" When your broke ass dont have a job youll be needing that money! People won't be renting, or just renting more? Quote Link to comment Share on other sites More sharing options...
Matt Posted March 12, 2020 Share Posted March 12, 2020 Just now, ArcticCrusher said: No you don't get it, not one bit. Sure do. I'm not claiming this is going to blow over and there won't be any pain. The economy has been a house of cards for a long time and this has blown it over. But to not see this as an opportunity is to get too caught up in the negative news hype cycle. Never let a good crisis go to waste. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 12, 2020 Share Posted March 12, 2020 This is the direct result of central bank modern monetary policy. They have no way to contain the debt crisis they created Quote Link to comment Share on other sites More sharing options...
Anler Posted March 12, 2020 Share Posted March 12, 2020 1 minute ago, f7ben said: This is the direct result of central bank modern monetary policy. They have no way to contain the debt crisis they created They should just dump $10 trillion in the market right now. Whats the difference, none of this shit is gonna get paid back. Quote Link to comment Share on other sites More sharing options...
f7ben Posted March 12, 2020 Share Posted March 12, 2020 1 minute ago, Anler said: They should just dump $10 trillion in the market right now. Whats the difference, none of this shit is gonna get paid back. Well if Trump does it all these mouth breathers would cheer If Obama had done it we know what they would have said Quote Link to comment Share on other sites More sharing options...
Matt Posted March 12, 2020 Share Posted March 12, 2020 11 minutes ago, Anler said: They should just dump $10 trillion in the market right now. Whats the difference, none of this shit is gonna get paid back. I blame Bush. QE was lipstick on a pig. Fundamentals would be stronger today if we'd just let market forces do their thing. Quote Link to comment Share on other sites More sharing options...
1jkw Posted March 12, 2020 Share Posted March 12, 2020 That bump didn't last long, holy shit. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 12, 2020 Share Posted March 12, 2020 Thanks to all the imbecile Trump voters here. You knew he was a 6 time business fail and you put him in charge of our country anyways. Fuckin dicks all of you are. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted March 12, 2020 Share Posted March 12, 2020 1 minute ago, Mainecat said: Thanks to all the imbecile Trump voters here. You knew he was a 6 time business fail and you put him in charge of our country anyways. Fuckin dicks all of you are. There’s no way you are a man. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 12, 2020 Share Posted March 12, 2020 2 minutes ago, Mainecat said: Thanks to all the imbecile Trump voters here. You knew he was a 6 time business fail and you put him in charge of our country anyways. Fuckin dicks all of you are. If this gets any worse who's gonna change your depends? Quote Link to comment Share on other sites More sharing options...
1jkw Posted March 12, 2020 Share Posted March 12, 2020 20942 now. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted March 12, 2020 Share Posted March 12, 2020 20 minutes ago, ArcticCrusher said: If this gets any worse who's gonna change your depends? He actually thinks a Virus is Trump's doing.. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 12, 2020 Share Posted March 12, 2020 This started under Bush and continued badly under Obama. QE is a tool to be used sparingly. It's like an antibiotic. Over use leads to ineffectiveness. If the supply chain doesn't start filling the top of the funnel again inside of 30 days, we're probably looking at a long term nasty. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 12, 2020 Share Posted March 12, 2020 30 minutes ago, 1jkw said: 20942 now. This shouldn’t surprise anyone. There’s countless individuals who were predicting this. Money under trump has been like a meth high. Now comes time to pay the piper. And what will trump learn from this? Sadly, not a fucking thing. Quote Link to comment Share on other sites More sharing options...
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