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Big Banks & Small Caps Battered Ahead Of The Fed

Big Banks & Small Caps Battered Ahead Of The Fed

While bonds are treading water this morning (10Y hovering back below 1.50%) ahead of The Fed’s potential nothingburger meeting, stock markets are moving fast with big-tech soaring and small-caps tumbling…

Additionally, Citi is leading the drop in big banks (following CFO  Mark Mason signal that revenue from the bank’s trading operations will probably fall by around 30% from a year ago)…

Source: Bloomberg

Meme-stocks are also getting hammered…

Source: Bloomberg

Led by AMC’s 8% drop…

Gold is coiling up for a move (usually lower on FOMC day… mysteriously)…

Can Powell tread the fine line and not blow this whole thing up?

Tyler Durden
Wed, 06/16/2021 – 09:57

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