Equities: GameStop’s market value hit $24 billion.
As a demonstration of just how distorted the market has become, here is the share price of a relatively small Australian mining company called GME Resources. The good news for the miner is that it has the same ticker symbol as GameStop (but in Australia), and the retail crowd mistakenly rewarded it with a 20% up day.
Call option volume hit a new record.
Rates: With money markets flooded with liquidity, the 1-month T-Bill yield hit the lowest level since the pandemic crash.
Energy: Crude oil and gasoline inventories are now within the five-year range.
Eurozone: German consumer sentiment tumbled this month.
United States: According to Morning Consult, US consumer sentiment is recovering.
Food For Thought: What has been going on with GameStop?
Edited by Daniel Moskovits
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