Instrument Name30-Day Fed FundsInstrument Symbol(ZQG23)

Instrument ExchangeCBOT

Debt is at the center of the current banking crisis. Rising interest rates pushed bonds lower, getting some banks in trouble as they could not meet on-demand depositor withdrawals. The bond market is a crucial factor for the path of least resistance of market prices across all asset classes.

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Wednesday closed down -1.65%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -1.63%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.37%. Stock indexes Wednesday gave up an early advance, whipsawed...

Market conditions and Fed actions have created the perfect storm for not just one Black Swan event, but multiple instances!