Those fixed income guys are conservative, won't easily allocate in volatile and risky environment. They would sit on cash until things calm down. Strange indeed...happens as after the stimulus package. If the Fed is buying, need to see when this will stop before jumping in. I want to see a down day or two that makes sense.
ES has made it HWB so anything can happen. Still has room into the 2930's +/- to technically remain a bear as I define it. Above there and we are more likely to head back to the ATH's. (someone may already have mentioned this - no time to go back and read all those posts lol)
My guess is that some knew of the Feds new 2.3T plan "The cornerstone of today’s actions is a new $600 billion “Main Street Lending Fund” to offer support for mid-sized businesses. The plan is to offer 4 -year loans to companies, with principal and interest payments deferred for one year. The loans will be originated by banks, who will retain a 5% share and sell the rest to the Fed’s facility."
don't know if fed buying this exact move, but they clearly put a floor in the markets with coordinated effort, likely that once others seen that gave them more confidence to buy, plus any shorts just adding fuel to the fire... along with legit concerns for inflation it does make shorting the less profitable route generally speaking and it has been for a while.
CL prices holding up in the upper 26's. OPEC to meet at 4 pm......G20 meeting on Friday. https://www.cnbc.com/2020/04/09/oil...eeting-to-decide-on-historic-output-cuts.html