Banks Bounce Again As Massive Short Squeeze Lifts Stocks; Bonds Battered

The Russell 2000 opened with a strong push by traders who had 0 DTE.

Target finally told us today that the consumer was a mess in Q1.. even worse in March...and worser in April...but they spun it as if yesterday's retail data showed their resilience. The banks are less likely to lend to consumers, which will lead to a continued decline in retail sales through the remainder of the year.