Cash is king as emergency stimulus fails to stop market panic

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Nov 14, 2016Emerging market bond, currency markets face ‘meltdown’ after Trump's win+1.4%
• Aug 30, 2018Fresh Stress Grips Weakest Emerging-Market Currencies+0.9%
• Jun 21, 2021The rand goes from best-performing to worst-performing emerging market currency - Moneyweb-1.0%
• Jan 8, 2021Treasury Yield Surge Rattles Emerging-Market Currencies in Asia - Infobae-0.1%
• Jun 28, 2017ECB says markets over-reacted to Draghi’s stimulus signals – The Irish Times+0.1%

After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.

• Mar 19, 2020Why the U.S. dollar’s relentless rally is causing pain for emerging markets - MarketWatch+1.1%
• Mar 30, 2020Ethanol Market Is Disturbing to American Farmers. And Now There's Covid-19.+3.6%
• Mar 28, 2019No, Brazil's Currency Is Not Going To R$5 If Pension Reform Fails-2.6%
• Oct 9, 2018IMF cuts world economic growth forecasts on tariff war, emerging market strains+4.1%
• Mar 9, 2020The Sprout: Agriculture futures slip as stock market falls in reaction to oil price drop - iPolitics+0.3%

After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.

• Mar 19, 2020Why the U.S. dollar’s relentless rally is causing pain for emerging markets - MarketWatch+6.8%
• Mar 28, 2019No, Brazil's Currency Is Not Going To R$5 If Pension Reform Fails+1.3%
• Oct 9, 2018IMF cuts world economic growth forecasts on tariff war, emerging market strains+2.5%
• Mar 9, 2020The Sprout: Agriculture futures slip as stock market falls in reaction to oil price drop - iPolitics-4.1%
• Jul 19, 2018Dollar and gold falters as Trump hits fed, stocks drop: markets wrap - MINING.COM+2.2%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Mar 30, 2020Ethanol Market Is Disturbing to American Farmers. And Now There's Covid-19.+64.1%
• Mar 10, 2020K+S Update: Is it about to get medieval in the potash market? |-7.1%
• Dec 24, 2018US crude falls below $43 a barrel as stock market sinks-0.5%
• May 20, 2021Stocks struggle as taper talk, crypto crash put markets on edge | Reuters+4.8%
• Mar 3, 2020GLOBAL MARKETS-Stocks slide, 10-year Treasury yield hits record low after Fed's emergency rate cut-33.6%