In fact odds of no additional increases in interest rates this year have jumped to 71.4% based on the Chicago Mercantile Exchange or CME Fedwatch. One has to wonder if this is when the Fed’s destabilizing asset bubble chicanery comes back to bite them on the rear end.
With the major averages here at home rapidly closing on official bear market levels or 20% declines from recent highs it’s worth noting that the following global markets are already officially in a bear market having declined 20% or more and in some cases a lot more. Leading the decline is Russia down over 60% followed by, Saudi Arabia, China, Brazil, Hong Kong, Italy, Spain, Germany, Singapore, Stockholm, Toronto, France and London all down in excess of 20%. The NASDAQ, Japan, India and Switzerland are all less than 1.5% away from joining the party. Thanks to WolfStreet for the graphic.
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