Stocks Give Thanks For Fed Liquidity As Dollar, Gold, & Bitcoin Dumped

Greed, Greed-er, and Greed-est...

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Source: CNN

This level of extreme greed didn't end well last time.

Interestingly, as the week progressed, Nasdaq caught up with Small Caps early-week outperformance, stalling the 'rotation' trend. The Dow was the week's laggard but still managed solid gains...

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As a reminder, the recent vaccine headlines have put global and european-specific stock markets on track for their best month ever...

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Source: Bloomberg

And the major US equity indices on track for their best month since 1987...

Source: Bloomberg

The Dow broke above 30k for the first time ever early in the week but was unable to maintain it...

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It's not the economy; it's central bank liquidity, stupid!

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Source: Bloomberg

Energy stocks continued their massive surge this week (though faded a little today) as Utes lagged...

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Source: Bloomberg

And as we noted earlier, Tesla surpassed Berkshire Hathaway in market cap for the first time ever...

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Source: Bloomberg

VIX flash-crashed intraday below 20 - its lowest since February...

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As traders dumped puts in favor of calls by the most since 2010...

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Source: Bloomberg

Treasury yields fell today after rising into Thanksgiving. 30Y remains up around 5bps on the week, 2Y unch...

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Source: Bloomberg

10Y yields rolled over at pre-election-spike levels (around 90bps) once again, shrugging off any vaccine growth hopes...

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Source: Bloomberg

The dollar tumbled for the 3rd week in the last 4, having plunged almost non-stop since the election...

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