Rates and Robitussin

We got a surprise rate cut this week to help deal with the Corona Virus.

It reminds me of this great comedy bit by Chris Rock where he tells of his dad using Robitussin on every injury known to childhood.

No surprise to anyone that has read this far that rates will very soon be zero again. I guess the tariffs and trade wars and walls are working just fantastic….

While our leaders were cutting rates and spraying robitussin from military helicopters…

Exxon broke below 2008 lows and looks more like Enron:

Just for laughs, here is a chart of the 20 year Treasury Bond which used to be something to hide away under your bed. Now it’s something you buy to trade for growth…

I will flip it and share the 10 year note and the historic move in credit markets…

That the $VIX is 50 should not surprise anyone by now. Yet, people in Tuscany (where the $VIX is always 5) are shaking their fists at us to ‘Calm The F@#k Down’.

I found this $VIX chart from Steven Place to be my fave of the week. It expresses how fast, broad, deep and rare this panic has become racing 200 percent above its 50 day moving average. That is 2008 financial crisis panic.

Thank goodness another rate cut is coming. I’ll put on my mask and head out house hunting later today.