Russia “Fold” Hope Fades – Stocks Tumble To Red

Update: and the reason why stocks just surged:

2Q GDP Tracking Est. Cut to 3.9% From 4.2% at Goldman Sachs
2Q GDP Tracking Est. Cut to 3.9% From 4.2% at JPMorgan Chase
2Q GDP Tracking Est. Cut to 4.1% From 4.3% at Barclays

And cue buy program.

and credit is not buying it…

Driven by VIX…

Seems like stockas making a run to ignore all geopolitics of the last 2 days…

Despite the concreteness of a tweet ‘proving’ Putin was ready to fold, US equities are giving up hope and are now red on the day (led by Nasdaq). US Treasury yields have remained notably lower all night and are fading lower once again. Gold and silver and rebounding and oil’s modest early slip has stabilized. DAX futures have broken back below 9,000 and 2Y Bund yields touched -0.5bps early on.

Stocks have dropped back into the red after the tweet exuberance…