Stocks & Bonds Suffer Worst Day In A Month As Year-End Looms

"But everyone else was long too, right?"

Stock and bond prices were both down today - adding up to the worst combined day since 12/2.

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Source: Bloomberg

US Major equity indices were all lower on the day, despite a valiant attempt at a bounce...

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Source: Bloomberg

Chinese markets were higher overnight...

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Source: Bloomberg

European stocks were lower today...

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Source: Bloomberg

US markets perfectly reflected AAPL today as the buyback machine lifted the market then stalled...

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US Majors also broke the December uptrend line today...

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And Nasdaq fell (for the 2nd day) back below the key 9,000 level...

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FANG stocks have erased last week's gains (biggest daily drop in six weeks)...

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Shorts were squeezed as Europe closed, and managed to lift Small Caps to green, but could not hold it...

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Source: Bloomberg

A 'mini' rotation today from TSLA into NIO?

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VIX and stocks continued to decouple...

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Source: Bloomberg

Credit and equity protection majorly decoupled...

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Source: Bloomberg

Bond yields (up) and stocks (down) recoupled today after the decoupling from 12/20...

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Source: Bloomberg

Once again the old pattern of EU selling and US buying is back for bonds...

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Source: Bloomberg

The 30Y Yield ramped (illquidly) above last week's highs before tumbling back...

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Source: Bloomberg

The yield curve (2s10s) pushed to its steepest since Oct 2018...

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Source: Bloomberg

The Dollar accelerated lower again today with a small rebound after Europe closed...

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Source: Bloomberg

The dollar hit 6-month lows...

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Source: Bloomberg

Cryptos gave back their weekend gains today (but Ethereum remains higher)...

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Source: Bloomberg

Bitcoin topped $7500 over the weekend but slipped back to $7200 intraday today...

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Source: Bloomberg

Silver had another good day as copper and crude lagged (despite an implicit rate cut in China)...

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Source: Bloomberg

According to the commodity complex (copper/gold), Treasury yields should be notably lower...

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Source: Bloomberg

What does gold know about a resurgence in global negative-yielding debt?

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Source: Bloomberg

Finally, Ed Yardeni's Fundamental Stock Market Indicator is signaling the S&P is 20% rich to reality...

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Source: Bloomberg