Fear remains high. Treasuries and VIX not buying the rally.
18 Sep 2008 9: 21 am | Filed under: bear markets, bonds, crash, deflation, depression, technicals90-day T-bills are 0.11%. That is up from a low of 0.04% yesterday, down from near 1.5% last week.
Click for sharper view. Source: Bloomberg.
The VIX (options volatility index, a reliable fear gauge) remains elevated:
Click for sharper view. Source: Yahoo! Finance.
These are still crash conditions. That is not a prediction, but crashes do arise from oversold markets like this with weak internals. If there is one tried and true method of inducing a stock market plunge, it is a credit seizure. The central banks are just huffing and puffing. Their $250 billion does not address the core problem of system-wide insolvency. Liquidity is a red herring. Nor do short selling rules matter. Keep on guard.
- Tags: crash, credit seizure, fear gauge, low yields, short selling rules, t-bills, VIX
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