The DC Today - Monday, March 20, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 20 March 2023
⏱️ 17 minutes
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Summary
Today's Post - https://bahnsen.co/3LBs0Z8
For the second week in a row, I get to do hours upon hours of reading and writing over the weekend, only to have Sunday interventions make obsolete much of that reading and writing. Keep reading to understand more …
There is no question that the major story in markets right now is sort of the only story, and that is the day-to-day perceptions of the banking system at home and abroad. Last week the market was down a hundred points Monday but had been up +350 in the middle of the day. Then Tuesday was up +350 before Wednesday was down -280 (but had been down -700 points). Thursday was then up +375 points, and Friday was down -380 points. So all in, from beginning to end, the market was dead flat on the week. Yep. Dead flat but with substantial movement each and every day. And then, today, we were up +383 points, basically the exact same level as Friday’s downturn. THIS is the type of market where people have a chance to act truly, truly foolish. It is also a prime-time example of directionless volatility.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:14.8 | Well, hello and welcome to a Monday edition of the DC today, second Monday in a row coming off of a lot of fun and drama |
| 0:24.4 | in financial markets. And so there is a sense of deja vu. And I recall vividly many Sundays |
| 0:33.3 | going down this path roughly 15 years ago where there was some sort of an announcement |
| 0:40.9 | and intervention and whatnot that was quite newsworthy in the midst of financial markets |
| 0:48.8 | back both before and during throughout the financial crisis. |
| 0:53.1 | So we've had a couple weekends in a row, |
| 0:55.2 | and yet there's a part of me that just wants to resist that temptation, |
| 1:00.1 | the melodrama that is being provided at this moment by media, |
| 1:04.1 | is totally understandable. |
| 1:05.6 | It's very compatible with their business model, for one thing, |
| 1:08.3 | but it also is true. |
| 1:11.0 | There are significant, and in some cases historical events playing out. |
| 1:15.3 | And yet I don't like the idea of insinuating a sameness with the financial crisis |
| 1:21.2 | when there is just so much categorically different. |
| 1:23.6 | And so I'm going to talk about that today. |
| 1:26.1 | I do think readers of that long form, |
| 1:28.8 | what we call the old school version DC Today will like what we've put out here today. There is |
| 1:34.0 | plenty on the Fed and on housing, a little update on energy. There's several charts. I want you to |
| 1:40.0 | get to all that at the written the DC Today.com. |
| 1:45.1 | But I'm going to spend my main time here after I just quickly recap markets here for you, |
| 1:50.8 | watching the video and listening to the podcast with a little explanation or update as to where |
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