Friday, December 11, 2015

Liquidation Mode

Hourly stock volume (SPY) is currently 2x the 10 day average. Junk bond volume is 3x average. And leveraged loan ETF volume is 4x average.

Junk bonds:

Leveraged loans

"New York-based Third Avenue Management is blocking investors from withdrawing their money from a near $1 billion junk bond fund as it tries to liquidate the fund in the biggest failure in the U.S. mutual fund industry since the Primary Reserve Fund "broke the buck" during the 2008 financial crisis."

Dollar / Yen:

All exits from the Hotel Californication are now closed