The Rare Phenomenon That Hit the Markets This Week, and the Troubling Housing Stat that Could Put the Consumer at Risk

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 30 October 2020

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

For only the 17th time since 1962, the S&P fell this week while yields rose. What that says about the market and where to find safety. And millions of people are behind on their mortgage payments, so how much firepower can the consumer possibly have?

Transcript

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0:00.0	Happy birthday Santelli. I'm Willic
0:06.8	St. Pauli and this is Fast Money. Tonight's our line of Steve Grosse are Brian Kelly.
0:06.2	Bono and Iceland and Jeff Mills tonight on fast. Trouble in the charts.
0:10.0	Why Chartmaster Carter Wirth says there is more pain ahead following this down week on Wall Street.
0:15.2	Tonight's big number, 12 million.
0:18.2	That's 12 million reasons why the U.S. consumer isn't a world of pain.
0:22.0	And later, EasyMaker Fisker topping the tape in its big
0:24.8	debut why this could give new energy to one being down part of the market.
0:29.0	We start off with another major sell-off on Wall Street.
0:31.6	Stumbling today with Big Tech leading the losses, the S&P falling more than a percent to cap
0:36.7	off its worst week since March.
0:38.4	But that's not the only story that played out in the market this week.
0:41.2	Check out what happened to Bonds. For the week, the yield on the market this week. Check out what happened to bonds for the week the yield on the
0:44.7	ten year rows even as stocks plunged. Our friends over at bespoke investments say that's
0:50.3	only happened 17 times before going all the way back to 1962.
0:56.7	So Brian Kelly, what does this tell you about the market?
0:59.6	Well, it tells me we're in for some tough sledding a lot of turbulence. So what's really interesting
1:05.2	about the fact that bonds and stocks kind of did what they did different things than we should have done,
1:11.6	there's a lot of people in this market,
1:13.7	the so-called risk parity funds that use that balance,
1:17.4	you know, when stocks are down, bonds are supposed to be up.
1:20.2	They use that as part of portfolio.
	...

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