Stocks, Bond Yields, & Crypto Soar Amid Payrolls Plunge, "Damaged" Democracy, & Biden's "Trillions"

Source: Bloomberg

10Y Yields broke out this week...

Source: Bloomberg

...back to their highest since March...

Source: Bloomberg

Real Yields soared this week (biggest spike since March 2020), after hitting record lows, weighing heavily on gold prices...

Source: Bloomberg

Notably, for European and Japanese traders, FX-hedged Treasury yields are the most attractive since 2017...

Source: Bloomberg

Additionally, Japan’s 30-year bond yields have dropped below currency-hedged 10-year Treasury yields for the first time since 2017...

Source: Bloomberg

The dollar rallied on the week with a decent spike yesterday and follow through today...

Source: Bloomberg

Cryptos were the major headline makers on the week, with ETH up over 60% and BTC up 40%...

Source: Bloomberg

With Bitcoin tagging $42,000 intraday at its peak...

Source: Bloomberg

And Ethereum nearing $1300 twice...

Source: Bloomberg

Is Bitcoin tracking 1970s gold?

Source: Bloomberg

Gold was clubbed like a baby-seal this week after a strong start-up to pre-vaccine levels...

WTI continued its post-election, post-Fed, post-vaccine (and now post-Saudi fold) surge nearing $52 this week...

Copper closed higher on the week but was weak today...

Finally, there's Goldman Sachs CEO David Solomon:

"The markets have been quite ebullient as of late. You know, I think there's some excess in markets."

"I think there's a lot of retail participation in markets that's certainly making markets a little bit more ebullient. I'd be cautious about some of that."

And then there's Fed Vice Chair Clarida who said he's "not worried by stock market values... they're adjusting to a more positive outlook."

Very positive indeed.

Source: Bloomberg

Of most note today though was the reaction of stocks to bond yields' spike - be careful what you wish for...

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