You can enable subtitles (captions) in the video player
February the 27th is in the books here on Wall Street. Here's the New York Minute. The streak continues, both the S&P 500 and the Dow industrials just about managed to stay in positive territory. That makes it 12 up days in a row for the Dow, the most since 1987. Now that streak is all the more remarkable, because as you can see the odds that the market puts on the Fed raising rates next month are now up above 50% for the first time ever.
Meanwhile, we have a very big anniversary today. So you can see from the VIX, it's the 10th anniversary of the crash that the markets suffered early in 2007, which started the slide towards the great financial crisis. The VIX is only now back to where it was back then.
If you take a look very interestingly, though, as how stocks have done compared to bonds, over 10 years stocks would still have one. It's dangerous to be out of them. But if you take a look at bank stocks, particularly in city, the losses have been grievous and lasting. Let's hope we don't stage a repeat. And that's the New York Minute.