"2018 Is Starting To Look Historic": This Is The Worst Market Since Nixon's Presidency | WHAT REALLY HAPPENED


"2018 Is Starting To Look Historic": This Is The Worst Market Since Nixon's Presidency

Usually the excuse "nothing is working" is used by finance professionals when begging clients not to pull their money, desperate to explain woeful performance and when there are no other explanations left. Only in 2018, that excuse is actually spot on.

After another abysmal day for stocks, in which stocks suddenly "waterfalled" due to coordinated CTA liquidations once the S&P500 breached its 200DMA, which saw both the S&P and the Dow turn to just positive for the year, the broader market suffered one of its worst, if relatively muted, sessions in the past three years.

As a result, market statisticians continue to fall over each other to describe the pain being felt across asset classes. And while it is customary to use the phrase "since Lehman" when in need of a blanket synonym for "dreadful", one analyst framed performance in 2018 differently: things haven’t been this bad since Richard Nixon’s presidency.

As Bloomberg notes, Ned Davis Research - which groups various asset classes into eight big buckets, from bonds to US and international stocks to commodities- finds that not a single one of them is on track to post a return this year of more than 5%, a phenomenon last observed in 1972, according to Ed Clissold, a strategist at the firm.

Webmaster's Commentary: 

It is not a question of "if" the markets will tank, completely, but when.

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