There wasn’t any meaningful news at all.
ECB/EU rumors…some spice but no substance
Consumer confidence…pass
Egan Jones…gimme a break
Yet the market freaked out and dumped everything but USD and JPY. Now, stocks are back near session highs. Volatility and confusion always leads to the same thing — contempt. Even if risk assets can stage a bounce, no one falls in love with a market that doesn’t make sense.