Short and Sweet

Markets up, Earnings down

Brief Morning Update

The yield curve continues to fall to -.52bps. It’s has come off the top of its last move higher and is showing signs that it will continue to fall. Not good for banks and companies or people holding bonds bought > 1yr ago.

VIX is at 19. Similar price action as the last time we saw a sell off.

Futures are up pre-market open. Yet the Q1 EPS reports so far are running at a -27% yr over yr. Not good so far.

Be patient. We have not seen the bottom yet