Too often now do we get glaring examples of just how utterly messed up our "markets" are. And, boy oh boy, did we ever get one earlier today. We call it "AlgoHell" and we are all living in it.
Shirtly after 2:o0 am CST, a headline was printed by Reuters. It stated:
- CHINESE TV: RESEARCH TEAM AT ZHEJIANG UNIVERSITY HAS FOUND AN EFFECTIVE DRUG TO TREAT PEOPLE WITH THE NEW CORONA VIRUS
You can likely imagine what happened next....or you can just take a look at the three charts below. S&P futures spiked 30 points, bonds yields rose...