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Category Archives: plunge protection team

Happy 30th anniversary Plunge Protection Team

Today is the 30th anniversary of the infamous October 19 1987 Black Monday stock market crash. Since U.S. equity markets are once again in an historic bubble, the financial press is all over this story. side note. The top U.S. equity market bubbles of the past 130+ years as measured by price to earnings and price to revenue are (from largest to smallest): year […] Read the rest of this entry »

One of these things is not like the other (SPX, 30yr, USD/JPY, USD/CNH)

One of these things is not like the other…. Guess which one has the B0J and SNB openly buying it. To be fair, there may well be some  support from the plunge protection team here in the U.S. (info here), the “national team” in China (PBoC), and the ECB. Absent the Dudley bombs from 8 weeks ago (“will not take the punch bowl away”) […] Read the rest of this entry »