Bank Bloodbath Brings Down 'Bull Market' As Yield Curve Crashes

Bonds, Bullion, & The Greenback are all higher since The Fed threw in the towel... stocks are lower...

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And despite the desperate efforts to talk up the economy, SHTF today...

Chinese stocks managed gains on the week, thanks to three big liftathons...

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European markets were ugly all week...

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US equity markets had their worst day since Jan 3rd - all ending the week lower...

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Dow futures fell 500 points from the overnight highs...

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And the S&P 500 fell all the way to stop dead on 2800...

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Marking the sixth refusal at that magical level...

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As Bloomberg noted, you know things have gone a bit pear-shaped when utilities and tech are the top gainers, comfortably outperforming the broader market. But they took quite divergent paths to get there.

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It appears the squeezers ran out of ammo...

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Buybacks had a good week - until Friday, as the blackout window looms...

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Big bank stocks have bloodbath'd this week (worst week of the year) as the hopes of higher rates and steeper curve evaporate...

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But Regional banks were clubbed like a baby seal... the biggest weekly drop since Sept 2011 - after the USA downgrade

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And bank CDS have started to creep higher...

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Tesla had an ugly week...

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Credit and equity protection costs surged on the week...

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Yields collapsed around the world this week, with 10Y bunds going negative once again...

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Global average sovereign yields plunged to lowest since April 2018...

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