I saw people talking about how the USA 30-year bond yield has halved in the past year. can someone explain to me in lay terms what the implication of a 30-year bond yield dropping like that are?
Is it a bet on the long-term feasibility of the markets? A prediction of long-term low interest rates? Or something else?

EDIT: I expanded the data range and it seems the 30-year bond has been in an overall state of decline since 1987 (9.87) to today (1.675)
the drop also lines up with similar plummet in Canada's 30-year bond, so it's not USA-specific

interesting to see the Euro surging with GBP down.

Reports of Coronavirus now in Rhode Island and New York, might be another wild week ahead.

we need to talk percentages instead of points. 1000 points in a 28k market means way different than 1000 points in a 17k market!

I'm reminded of places that publish "sunshine lists" of people that make over 100k, but then never adjusted for inflation over 2 decades. *facepalm*

god I love STONKS memes

under what general conditions do people ever look to sell their gold holdings?

holy carp! At first glance I thought I misread the decimal place, but yeah 10% plunge!

OIL
41.28
-4.62 (-10.07%)
15:59 PM, MAR 06

32.09, baby! (-22.26%)

looks like Saudia Arabia and Russia are having an oil slapfight while the rest of the world is still shaky from Coronovirus. Not the best news for stronks!

that's one helluva short, but godspeed man, if that bet pans out for you...

I'm starting to wonder if banking on unlimited continued growth was a good long-term strategy

what is going on in the stock market thread

I don't think any airline-related stocks have come close to hitting bottom

Stupid question here, but how is this related to the coronavirus? I keep hearing it's a response to it, but I don't understand how.

thanks all. Pinside is definitely the most American message board I hang around on, so sometimes I have to figure out what y'all are up to

I have a funny feeling the European travel ban is not going to calm things

DJI now under 22k, 1600 point drop from yesterday close.

https://www.fantacalcio.it/news/attualita/12_03_2020/pornhub-un-mese-di-proventi-e-premium-a-marzo-gratis-per-litalia-382257

Pornhub Premium free for Italians and Pornhub donating a month of profits to Italian hospitals.

Are we talking the ~1pm spike?
I thought it was the $500 billion short-term bank funding, not 1.5 T? Either way it took 34 minutes for the gain to be wiped out entirely. LOL

EDIT: my bad, the $500b at 1pm was part of the $1.5T over a few days https://www.politico.com/news/2020/03/12/fed-announces-massive-cash-injection-to-relieve-us-debt-market-127284

21,200 DJI close! wow.
I'm morbidly curious to see how low oil will get. I expect a loooong plateau around 27-30. Closed today at $31

Saw this comparison

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no it's not goin to really help anyone but the 'upper class' (and that includes most of us that can afford to buy pinball machines,) but that's just how capitalism works.

if only most companies abided by such morality... but I digress

yikes, is that really their lust hurrah?
Sub 22k DJI on the futures market.

who is going to be first out the gate with premium hazmat delivery service?

.

I can't remember who said they were looking at an 18k DJI but I apologize if I ever doubted you.

no need to bellyache on his behalf, he's got you more than covered.

A quote I saw on twitter on the reckoning of this kind of imbalance:
"Banning the working class from working during a pandemic but not banning the renter class from extracting rents has done more to instill an immediate and furious class consciousness than anything else I've ever seen."

+1918!

this whole thread is devastating https://twitter.com/tjbnz/status/1240890303415902208
One of those things that reminds us that certain classes of people don't have laws apply to them because they help write them.

Truth, she didn't go down for insider trading.
And Al Capone didn't go down for murder.
It all depends on a prosecutor's willingness to put the work in, I guess.

oh she absolutely did insider trading, but she's not "guilty" of it according to the letter of the law. Our society is filled with sociopathic capitalistic predators scooping up profit off whatever they can technically get away with. Generally it depends on the willingness of a prosecutor to follow through on the fine points, and to bypass the culprits rich + well placed friends and their influence who work to make such accusations disappear. The permissiveness of white collar crime is a goddamn shame.

Futures market:
Dow -847.00 / -4.45%
Level 18,193.00

another steep opening coming up. Will we see sub-18k tomorrow?

What do you mean? how is Saudi Arabia and Russia handling their business?

According to https://en.wikipedia.org/wiki/List_of_countries_by_oil_consumption USA uses 20% of the world's oil per day, but the price is much more dictated by supply at this point.
I am not expecting oil sands and fracking ventures to be hot again for 5-10 years, if that

hahaha that seems like an incredibly silly thing to burn American money on, but then again cruise ship companies and airlines are also lining up, begging for enough money to essentially just nationalize them. (and let's not forget cruise ship companies aren't actually american, they fly flags of different countries to avoid taxes)
But what Saudi Arabia is doing is (AFAIK) way more about Russia than it is about crushing American fracking. Canadian oil sands ventures are also annihilated (though the price per barrel required in Canada is way higher than American fracking rates) and it's just another side-effect from their strategy

anyone else kind of creeped out by the "let the virus do it's thing and keep the economy strong" rhetoric coming out of parts of the financial sector?

DOctor Who

There is something incredibly poetic about most of these games being BINGO PINBALL machines, whose specialty was giving the player the illusion of enough control to take charge and make big coin on them, even though the system is always rigged against the players.
sm 002 bull market.jpg
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sm 004 ticker tape.jpg
sm 005 wall street.jpg

Bagatelles aren't much better, mind you
sm 001 ticker.jpg
sm 006 stock exchange.jpg

My favourite of course has to be Blue Chip. And it's the only one on here that's a flippered pinball machine! That follows the analogy well, in that it celebrates real labour that goes into being successful.
sm 007 blue chip.jpg

I'm not a finance guru, but Apple has had massive cash-in-hand for a long time, so I wouldn't expect them to sink too far this year, or at least will be one to bounce back early. (perhaps this effect is minimized by record low interest rates, however)

I worry this bump will accelerate the "let's get the economy roaring again in 2 weeks! People are gonna die anyways!" talk

While not as outrageous as Bezos begging for humanitarian donations for his poverty-wage employees, my favourite brazen request for government money has to be from Hobby Lobby. (The company that was bizarrely found trafficking in ancient Iraq artifacts)

Apologies, I confused Hobby Lobby with another company. Hobby Lobby are the ones that received a vision from God to stay open, despite the pandemic. https://twitter.com/kendallybrown/status/1241519413486129156 (link is a letter from the CEO)

But them trafficking Middle Eastern artifacts is very real (no paywall): https://www.foxnews.com/science/us-to-return-thousands-of-artifacts-seized-from-hobby-lobby-to-iraq

America is still on a pace to top Italy according to these numbers, and that combined with poor test availability and the recent March Break fiascos, I still think today's optimism is a bubble.
As always, I really want to be wrong here, as we're talking lives, not just numbers.

IMG_20200325_104855 (resized).jpg

I haven't seen that from Mexico, but I have seen Bolsanaro express the same sentiment in Brazil, with a vigorous thrust at trying to keep people working and the economy humming, all the while claiming it to be a media hoax.

this thread addresses the instinct to try adjust numbers per-capita, and how it's more useful for non-transmissible stats, but less useful for exogenous data sets, which are better understood as outbreaks: https://twitter.com/jburnmurdoch/status/1242904596856614912?s=09
It will be interesting to look back and try and understand the impact of America's largest outbreak being in the home of American finance!

EDIT: for fairness, I wanted to add that the guy who I linked to above is also the same data-analyst who produces that chart I linked above, and he's from the Financial Times

They should try eating less avocado toast and try bringing lunch to work, maybe saving up to have a 3 month buffer by not buying a daily coffee.

I don't understand this. I checked their page and the headlines are that the markets are rallying way up, and that many hospitals are being overwhelmed with Coronovairus cases. Both are factually correct.
Just ignore every article on every website that falls under "Opinion".

unless I read it wrong, unemployment was like $250 billion and the rest of the $3 trillion is going to coprorations. Not sure why you'd let unemployment benefits get your back up here

This seems like something they would do. It would cost the government tonnes of money in revenue, and it would all be given to people who already have money and don't really more to survive.

So much of public politics is just "root root root for the home team" sports psychology. So it's always best to just let the career industry analysts hash it out and see what they're saying. (And I define 'industry analysts' broadly, because you need the voices in the industries, as well as all the voices effected by the industry, working in the industry, critical of the industry, etc, equally)

Boeing is an international company so going by the global mood, 100% agree. What we're seeing in America *gestures broadly at everything* isn't quite reciprocated in other industrialized nations

money is a helluva drug

DOW futures right now... -27.00 / -0.13%
probably the calmest I've seen it in a long time!

I think this will be bad for stocks, but I am super grateful he got on board and put April 30th out there. A bit of that will already be priced in because that kind of isolation was already being pushed in most other countries.

It gets citizens away from thinking about the the nonsensical "Easter" dates he was floating earlier.

oil has dipped under $20 a barrel!

was there ever any consequences to the insider trading, or are we just letting that stuff slide these days?

Sometimes to ensure what happens in vegas stays in vegas, you should deactivate all social media before going to vegas...

None of your investments are having this bad of a day

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that's a Toy Story CE, baby!

CEOs do. For a long time now corporate america has been honest about how they require a desperate class of citizens to maximize profits off of. If people had less-precarious access to health care, weren't existing beneath the poverty line despite working 2-3 jobs, etc, they might get the funny idea that they have value, and that's bad for shareholders.

*spits tobacco*
*ding*
why that sounds like comusmism!!!

I can't imagine typing this and thinking that it's workers who are the problem.