The Japanese carry trade has gone into reverse so it’s inevitable.
Japan is in denial on debt. It's 10-year gov't bond yield is only 1.8% (blue), which looks ok, but that same yield 10-years forward is 4.0% (orange) and 20-years forward is 4.4% (red). The only certainty for Japan is that it'll have either a debt crisis or a currency crisis… pic.twitter.com/eyX6cBoo2I
— Robin Brooks (@robin_j_brooks) November 22, 2025
We are witnessing unprecedented market concentration:
Magnificent 7 stocks now reflect a record 38% of the S&P 500’s market cap.
This means that 38 cents of every $1 invested in the S&P 500 goes into these 7 names.
The percentage has DOUBLED since the 2020 pandemic.
Nvidia,… pic.twitter.com/Z8KjbyzT9C
— The Kobeissi Letter (@KobeissiLetter) November 22, 2025
BREAKING: 1.91 BILLION ERRORS IN EQUITIES FOUND BY THE
@SECGov
CAT SYSTEM 🐈 IN JUST 1 MONTH 🚩🚩
Let that sink in. That doesn’t even include OPTIONS‼️
We’re told the markets are “efficient,” “transparent,” and “protected” by surveillance… meanwhile nearly 2 billion errors are flooding the system like it’s normal 🤡
And retail is supposed to believe price discovery is real?
That short interest is accurate?
That off-exchange abuse is “conspiracy”?
No. This is systemic rot.
This is why stocks get warped, why liquidity is fake, why volatility makes no sense, and why nobody trusts the markets anymore.
The current system is straight-up broken.
If the industry can’t process its own trades without billions of errors, maybe the markets aren’t the problem.
Maybe it’s the swamp allowing it to continue.
Drop a comment and (respectfully) tell the SEC how you feel:
🚨 BREAKING: 1.91 BILLION ERRORS IN EQUITIES FOUND BY THE @SECGov CAT SYSTEM 🐈 IN JUST 1 MONTH 🚩🚩
Let that sink in. That doesn't even include OPTIONS‼️
We’re told the markets are “efficient,” “transparent,” and “protected” by surveillance… meanwhile nearly 2 billion errors… pic.twitter.com/98nXBGZcCZ
— The Butcher of Wall Street Marcel Kalinovic (@BossBlunts1) November 22, 2025
Tack on margin debt and you’re pushing $1.5 trillion. Even Bernanke would say that’s a lot of leverage. https://t.co/6NbitL8nJZ pic.twitter.com/g9aC58ZTHh
— Danielle DiMartino Booth (@DiMartinoBooth) November 22, 2025
Imagine this scenario: You’re trading $SPX futures & go short at 10am, Nov 20, 2008. But you need to use the bathroom. You enter the trade & go take a whiz 🚽. In the span of a few min $SPX drops another 264 points (in today’s levels). VIX is now 81. That really happened. 🛀🏻 pic.twitter.com/jzPPKQiVsB
— John (@market_sleuth) November 22, 2025
Don't tell me it's only a 3% pullback in the $SPY when nearly 60% of all stocks are under their 200-day simple moving average
— James DePorre (@RevShark) November 22, 2025