2023-04-11 04:38:00 ET
Summary
- The employment report came out on Good Friday when the stock market was closed, but the futures market did trade for another 45 minutes after the report came out.
- There has been a sharp decline in Commercial and Industrial loans, in addition to the flight of deposits out of the banking system into money market funds.
- It is true that there is no credit risk in the NASDAQ 100, but techs have gotten notable valuation multiple expansion in this flight of capital out of banks.
For further details see:
The Odds Of A May Rate Hike Just Rose