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Winter in springtime. Stocks rallied in an epic snapback on Friday in response to Government action. The move in stocks almost made up for the prior day’s loss which was the largest single day percentage loss since 1987.

Aches aplenty. Stocks were hit hard yesterday after being disappointed by Wednesday night’s Oval Office speech and the ECB’s keeping rates steady. The Fed stepped in with a massive liquidity package which was only met by a brief applause before the selling intensified into the close.

Madness, continued. Stocks fell yesterday on upset hopes of stimulus and the WHO labeling the Coronavirus a pandemic. The eleven year old bull market ended for the Dow Jones Industrial Average, which entered bear territory yesterday.

Promises, promises. Stocks rebounded yesterday on hopes that the Administration will provide relief for virus stricken workers and companies. Treasury yields swung wildly upward continuing their unprecedented behavior.

Time out. Stocks sold off yesterday objecting to the cocktail of crude oil and coronavirus. Bond yields continue to fall catching money fleeing from equities.

Slippery argument. Stocks fell on Friday as Coronavirus fears continue to grip the markets. Crude oil fell along with the energy sector as the Saudis failed to make a deal with the Russians on supply cuts.