In this episode Scott discusses:
- Futures point up this AM on hopes of a rebound from Friday.
- Friday was the worst day in the markets all year.
- The 10 year treasury bond will open 14 plus basis points lower than it opened on Friday.
- Investors have substantially increased their margin investments in stocks which can exacerbate any downfall in the markets.
- Travel stocks particularly got battered on Friday.
- Bitcoin is up 4.42 percent today after getting hammered Friday.
- Japan has fully closed its borders to foreigners while it assesses the Omicron variant.
- One strategist Ken Lerner said it best “hard to say how lasting or impactful the latest variant will be”.
- Pre-Omicron, Covid was already heading back up. Average cases for the last 7 days were at 72,000 a day but that is significantly underreported as holiday stats and Sunday stats are always low.
- London and European markets rebounded today.
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