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Brian Maher: The high cost of cheap money
By Brian Maher
Daily Reckoning, Baltimore
Wednesday, August 7, 2024
The stars were once again in their courses yesterday -- oil was poured upon troubled waters, the dip was bought.
All was peace.
Following Monday's sharp unpleasantness, the stock market went trampolining back.
Yet gravity reasserted itself today.
The Dow Jones Industrial Average fell 234 points earthward.
... Dispatch continues below ...
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With it came the S&P 500 and Nasdaq Composite.
The first dropped 40 points. The second 171.
Yet a question arises: What explains Monday's severities? Why did a Japanese sneeze give the world a 24-hour influenza?
And can you expect a relapse? Today we take up an inquiry.
Look to the "carry trade" . ...
... For the remainder of the commentary:
https://dailyreckoning.com/the-high-cost-of-cheap-money/
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