Trump Tax Bill Sparks Worst 2 Days For Stocks & Bonds In 2017

But, but, but... it wasn't supposed to be priced in...

Video length: 00:00:32

On the day Trannies and Small Caps managed gains...

(Click on image to enlarge)

Futures show stocks dumped again at the open, tried valiantly to bounce back... but failed...

(Click on image to enlarge)

Notably VIX crashed at the open 8.90...

(Click on image to enlarge)

FANG stocks were weak again today...

(Click on image to enlarge)

High-Tax firms outperformed Low-Tax...

(Click on image to enlarge)

Bank Stocks were weak again - giving up gains from earlier in the week...

(Click on image to enlarge)

As a reminder, yesterday was the worst day for stock and bond investors of 2017.. and today was almost as ugly...

(Click on image to enlarge)

Which is the worst 2-day drop for stocks and bonds since the election...

(Click on image to enlarge)

Bonds were a bloodbath once again today... but we note once again that all the selling pressure occurred during the US session...

(Click on image to enlarge)

As the yield curve steepened dramatically... most since January 2009

(Click on image to enlarge)

So the yield curve is the steepest since the Nov FOMC Minutes, 30Y Yield are the highest since the Nov 1st FOMC meeting...

(Click on image to enlarge)

The Dollar Index dipped again today but remains somewhat rangebound over the last week...

(Click on image to enlarge)

Copper & Crude continue their bounce back...

(Click on image to enlarge)

WTI/RBOB rallied on the day after big crude draw (and smaller than expected gasoline build)...

(Click on image to enlarge)

Gold and Silver also gained - to their highest in 2 weeks...

(Click on image to enlarge)

The divergence between gold and bitcoin is closing fast...

(Click on image to enlarge)

Lots of chaotic moves in Cryto-space today.

Bitcoin and Bitcoin Cash were inversely traded as the Coinbase reopening hit...

(Click on image to enlarge)

Bitcoin futures saw a few halts in the last 24 hours...

(Click on image to enlarge)

Ether outperformed Bitcoin on the day...

(Click on image to enlarge)

On the bright side, the outrageous premiuum in GBTC is starting to collapse...

(Click on image to enlarge)

Finally we note that Gold is now at its cheapest relative to oil since the start of the year, with an ounce buying under 22 barrels of WTI (vs 29 at the year's highs)...

(Click on image to enlarge)