• US stocks continued to crash.
• China market began to stabilize, while SH index reached 3000 before down again.
• Even CAT dropped 3%.

Winners and Losers (in my watching list): UVXY+12.14%; PLTR-21.31%, RIVN-20.88%, EDU-16.39%.

Bond Market: 2Y dropped to 2.606, -9BPS; 5Y down to 2.951, -13.5BPs; 10Y barely moved to 3.128; 30Y barely moved to 3.225.

Equity Market: NASDAQ tumbled to 11623.25, -4.29%; DJI dropped to 32245.7, -1.99%; S&P 500 crashed to 3991.24, -3.20%.

Econ Calendar: US whole sale inventories 2.3%, in line with expectation.

Big News: John Lee became Hong Kong’s new leader. Elizabeth Warren crowds Biden. Biden kept silent on stocks.

Guess On Next Move: We could expect a rebound but it may not last long.

What Big Names Say:

• NASDAQ continued to crash while DJI and S&P 500 dropped also.
• China mainland stocks crashed.

Winners and Losers (in my watching list): DWAC+4.31%, WE+3.25%, AMD+1.57%; TSP-10.49%, DIDI-10.31%, SPCE-9.33%.

Bond Market: 2Y climbt to 2.696, +7BPs; 5Y to 3.086, +7.6BPs; 10Y 3.13, +6.2BPs; 30Y moved to 3.23, +6.9BPs. All shifted up…

• Major US indexes higher with NASDAQ leading, just above 13000 and DJI above 34000.
• China stocks experienced the most severe hit since 2020 pandemic, major indexes down over 5%.
• Musk has taken over TWTR successfully.

Winners and Losers (in my watching list): TSP+8.06%, SNOW+7.56%, LMND+7.41%; DWAC-12.90%, UVXY-3.51%, NFLX -2.60%.

Bond…

• Stocks continued to crash.
• China stocks ended mixed on Friday.
• French prosecutors issued warrant to arrest Carlos Ghosn

Winners and Losers (in my watching list): UVXY+18.2%, DWAC+8.01%, TWTR+3.93%; OPEN-5.47%, LMND-4.87%, SQ-4.68%, SEV-4.13%.

Bond Market: 2Y barely moved to 2.699, -0.4BPs, 5Y dipped to 2.926, -5.5BPs, 10Y dipped a little to…

• 3 major indexes tumbled after Powell talking about more hawkish stance during a conference with IMF.
• China stocks continued to crash, some previous good stocks’ financial earnings in trouble.
• Elon Musk said money for Twitter takeover secured.

Winners and Losers (in my watching list): UVXY+11.28%, UAL+9.31%, AAL+3.8%; DWAC-17.3%, DIDI-9.04%, OPEN-8.2%.

Bond Market: 2Y rose sharply to 2.703, +11.8BPs, 5Y also rose to 2.981, +12.1BPs, 10Y stayed at 2.911, -0.5BPs and 30Y dipped to 2.928, -6.4BPs. 10s2s, 0.208. TIPS recorded -0.125%.

Equity Market: NASDAQ closing at 13174.65, -2.07; DJI 34792.76, -1.05%; S&P 500 4393.66, -1.48%.

Econ Calendar: Initial Jobless claims 184K, lower than previous 186K.

Big News: Florida strips Disney of special status; Biden sends another round of 800MM worth of weapons.

Guess On Next Move: Be careful.

What Big Names Saying:

• US stock markets diverged with Dow rising NASDAQ tumbling and S&P 500 unmoving.
• China stocks crashed overnight.
• Elon Musk believed “woke mind virus” and “wokeness” threat to modern civilization, and led Netflix unwatchable as well.

Winners and Losers (in my watching list): COST+1.55%, UAL+1.24%, TWTR+1.21%; NFLX-35.12%, RBLX-12.5%, SQ-8.84%.

Bond Market…