Banks Bruised As Bond Yields Crash To 2017 Lows; Dollar Drops, Gold Pops

One of those days...

Once again European concerns are front and center...

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And EURUSD vol is starting to spike...

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A Record 37th day in a row without a 1% intraday move... and 81 days in a row without a 1% drop.

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A 53 point intraday range in The Dow today!!

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S&P closed almost unch, Dow and Small Caps red on the day... Nasdaq record high.

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But banks were the worst performers... (down 3 days in a row)

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NOTE: bank stocks are holding in at the 50-day moving-average...

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As it appears suddenly investors are waking up to the fact that NO - THE YIELD CURVE NEVER STEEPENED!!!

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Real Yields have entirely erased Trumpflation hopes...

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Treasury yields continues to plunge post-Payrolls...

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With the entire yield curve now lower on the year...(yields have dropped since The Fed)

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Slamming 5Y yields to the lowest since November...

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With near-record short positions, we wonder if the squeeze is just beginning...

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The USD Index dropped today (but remains up on the week)...

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Kiwi kneejerked lower after RBNZ said it wants the currency lower...

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WTI and RBOB ripped higher - after initially tumbling on terrible inventory and production data...

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The weak 10Y auction saw USDJPY and Gold mirror each other perfectly (tagging 112.00 and $1240 respectively)...

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