Best looking weekly chart, page-2160

And if you thought that the job reports are a desperate delusion, wait for the banking industry hallucinations to come into the Light!

'..as of December 31, 2023, Goldman Sachs Bank USA, JPMorgan Chase Bank N.A., Citigroup’s Citibank and Bank of America held a staggering total of $168.26 trillion in derivatives out of a total of $192.46 trillion at all U.S. banks, savings associations and trust companies. That’s four banks holding 87 percent of all derivatives at all 4,587 federally-insured institutions in the U.S. that existed as of December 31, 2023.

Now, it would appear, some market-savvy bank examiner embedded in one of those megabanks has had an epiphany and decided to ask the question: “How is it possible that all four of these megabanks with trillions of dollars in derivatives happened to be on the correct sides of these trades during the fastest and steepest interest rate increases in 40 years?” Multiple bank counterparties to these trades should be reporting massive losses and yet all we hear are crickets.

https://wallstreetonparade.com/2024/06/the-fed-and-fdic-wake-up-suddenly-to-the-threat-of-derivatives-flunking-the-four-largest-derivative-banks-on-their-wind-down-plans/

No wonder the goldies are locked down tighter than a python's grasp!