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Quiet macro day today a collapse in Texas Manufacturing was the only significant domestic data (but Treasury's QRA, part 1 the most noteworthy ahead of tomorrow's actual announcement), and that was evident in rate-cut expectations being hugely unchanged...
Source: Bloomberg
And the lack of news was enough to allow a 'buy all the things' narrative to continue with Treasury's QRA-suggested lower supply expectations.
Bonds were bid across the curve with the belly outperforming (short-end least bought)...
Source: Bloomberg
Gold rallied back to the highs after the QRA...
Source: Bloomberg
...as the dollar declined...
Source: Bloomberg
Bitcoin ripped higher, topping $43,000 back at two-week highs...
Source: Bloomberg
As GBTC outflows are trending lower and Friday saw net inflows...
Source: Bloomberg
And of course, stocks drifted higher all day - as they do - but then jumped notably higher on the AQR supply report...
Source: Bloomberg
With MAG7 stocks accelerating after the AQR up to new record highs...
Source: Bloomberg
And 'most shorted' stocks were squeezed hard (up to last week's highs)...
Source: Bloomberg
Of course, with everything else rallying, there had to be something to sell... and it was crude oil (because, yeah, the Middle East is much calmer today)...
Source: Bloomberg
And finally, Nasdaq melted up even more today, but the rest of the week has plenty of hurdles...
Source: Bloomberg
Will the Dotcom bubble analog hold for a dip to be bought?
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