Late-Day Panic-Buying Keeps Stock Win Streak Alive, Bond Yields Tumble To 13-Mo Lows

World GDP growth expectations are tumbling...

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Earnings expectations are plunging...

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And still, stocks managed to hold gains...

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With Chinese stock markets closed for the week as the nation celebrates the lunar new years, Yuan has drifted weaker...

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And China Large-Cap ETF has also been sliding...

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After a good start to the week, European stocks suffered their first weekly loss in six, led by DAX...

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What a total farce - a late day panic-bid ensured the weekly win streak remains alive...

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Futures show the day best with the incessant bid beginning to lift stocks after Europe closed...and then panic bid into the cash close...

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The S&P failed at its 200DMA and then broke back below (and closed below) its 100DMA...

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"Most Shorted" stocks actually fell this week as the juice that sent stocks soaring in January has well and truly run out...

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Bond yields and stocks have really decoupled...

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Credit and equity protection costs surged midweek...

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Treasury yields tumbled on the week (3rd weekly decline in 10Y Yields in a row)...

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This is the lowest weekly 10Y Yield close since Jan 2018...

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The Dollar index is now up 7 days in a row - the longest winning streak since Dec 2017...

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We note that the Chinese are back next week.

Despite the dollar gains, cryptos had a huge week, led by Litecoin...

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WTI had an ugly week, copper outperformed (but faded today) and PMs managed small losses (despite the dollar surge)...

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It seems $52 is the magic number of crude...

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Gold bounced back above the pre-Powell lows...

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Gold gained against the yuan...

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Of course, Iron Ore is the big winner, following the Vale disaster...

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Finally, there's this...

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And this...

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