The Jaws of death between bonds and stocks has never widened so fast...
(Click on image to enlarge)
What will you do?
China was flat to modestly lower overnight...
(Click on image to enlarge)
European stocks extended gains led by UK's FTSE (and Italy unch on the day)...
(Click on image to enlarge)
Mixed bag in US equities with Dow underperforming thanks to Walgreen Boots, Nasdaq extending yesterday's gains, S&P unch, and Trannies and Small Caps in the red...
(Click on image to enlarge)
Walgreens Boots plunged over 13% - its biggest drop since Aug 2014 to its lowest since Oct 2013...and accounted for the bulk of Dow losses today...
(Click on image to enlarge)
Treasury yields reversed some of yesterday's surge higher with the belly outperforming...
(Click on image to enlarge)
10Y broke back below 2.50%...
(Click on image to enlarge)
The yield curve remains non-inverted in 3m10Y but flattened notably on the day...
(Click on image to enlarge)
NOTE - the curve traded all the way back up to pre-FOMC levels before flushing.
The Bloomberg Dollar Index broke above the key 1200 level once again... and reversed once again...
(Click on image to enlarge)
The Mexican Peso pumped and dumped after various headlines including President Trump's border shutdown threats...
(Click on image to enlarge)
Cable rebounded - in its ubiquitous manner - on hopes that yet another May offer will avoid a no-deal brexit...
(Click on image to enlarge)
Just after midnight ET, Cryptos were suddenly panic-bid and while some suggested this was driven by April Fools' headlines about Bitcoin ETFs, that has been widely disregarded as the extended gains during the day session suggest two larger buyers...
(Click on image to enlarge)
“The Bitcoin market and crypto market in general continues to be small relative to the rest of the markets -- and emotional,” said Jehan Chu, managing partner at blockchain investment and advisory firm Kenetic Capital. “It’s still very much subject to waves of enthusiasm. I don’t think today is anything special.”
Bitcoin spiked above $5000 for the first time since Nov 2018 and broke above its 200DMA - the biggest one-day gains since Dec 26th, 2017...
(Click on image to enlarge)
“The reason why? Anybody’s guess at the moment,”
Crude continues to surge higher as copper slides with PMs treading water despite USD gains...
(Click on image to enlarge)
If China's so freaking awesome, why is copper collapsing?
(Click on image to enlarge)
WTI surged above its 200DMA on the day...
(Click on image to enlarge)
Gold managed to recover overnight losses... but remains below $1300
(Click on image to enlarge)
How quickly will the jaws snap shut?
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.