Stocks Pop, Gold Drops After 'Calmed' Korea, Debt-Ceiling Delay, & Dismal Data

Disappointing Data this morning was trump'd by some de-escalation with North Korea and a short-term debt-ceiling can-kicking - stocks rallied, bonds & bullion leaked lower, and the dollar was unable to get back into the green...

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The biggest headlines of the day came out of DC (as usual) with Trump seeming to de-escalate his rhetoric with North Korea (prompting a drop in gold)...

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And then Trump acquiescing to Democrats' demands on the debt-ceiling, sending gold lower and crushing October bill yields...

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However, it merely kicked the can from October bills...

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to December bills...

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Some context for today's bounce, however...

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Equity markets got a boost from the news...but was unable to recover yesterday's losses... (NOTE - stocks were weak into the close)

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Two decent short squeeze efforts today to ignite some momo...

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VIX was clubbed like a baby seal once again as all risks were removed from markets...

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Vols across all major indices fell today but remain higher from Friday...

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FANG Stocks were panic bid today - erasing all of the yesterday's losses...

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Bonds and Stocks remain completely decoupled...

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Treasury yields rose on the day, after the debt-ceiling deal was agreed, but in context, bonds remain lower in the yield on the week...

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With 10Y Yield hovering at 2.10%...

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The Dollar Index closed lower on the day, hit by weak ISM data...

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The Loonie soared today after BOC unexpectedly hiked rates...

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WTI Crude rallied back above $49 - one-month highs - as RBOB Gasoline slipped lower amid refinery restarts (ahead of tonight's API inventory data)

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Gold and Silver dropped today...barely...

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Lot of chatter about OJ Futures today but we note that the front-month Nov contract tumbled over 3% - but remains well above last week's levels...

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Finally, Bitcoin bounced back impressively after China's ICO ban...

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Bonus Chart... You are here...

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