Michael Burry BUYS Banks Stocks & Yellen WARNS About MONEY

The stock market had another day filled with a lot of movement to go nowhere. Debt ceiling headlines and 13F's helped fuel headlines, but investors weren't in a rush to trade outside of the monthly range. Some traders were shocked to find out that Michael Burry was speculating on bank stocks and possibly even lost over $2M on FRC stock. Then towards the end of the day Janet Yellen even issued another warning and letter about running out of money by June 1st. All of this news but the reaction was once again muted as it seems traders are waiting for Powell to give the final word ahead of the debt ceiling. Given the circumstance though, if Powell or the data produces no reaction, it seems like many traders will be focused on the debt ceiling which is now just 16 days away.

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