Gold Bitcoined, Bonds And Yen Soar, Dow Back To Unch (Of Course)

Tyler Durden's picture

Gold was Bitcoin'd (or Baumgartner'd) as it suffered its biggest daily drop since LTRO2 on 2/29/12. The JPY rallied over 1% - its biggest rise in 7 weeks. 10Y Treasuries had their best day in 7 weeks. Macro data was absymal. But it was evident that the only thing mattered was a new high close for the Dow - as we noted 10 minutes before the close:

 

 

And thanks to some help from the old ramp standbys - HYG and VIX - they nearly made it (but not quite) as the Dow ended -0.08 points rallying 75 points off the lows on the worst macro data day in months, with the EURUSD ramping just the right amount over 1.31.

 

Not a good day for Commodities... gold...

 

A Great day for bonds...

 

Not a good day for JPY carry traders and the rest of Western Civilzation banking on Abenomics to save the world...

 

But The Dow came through so mom and pop wouldnt even know the stuff had hit the economic fan...

 

The S&P did not have such a sgood day though once Europe closed the algos were in charge and we oscillated around VWAP... and closed prefectly balance at VWAP...

 

But FX land was more active today than it has been a week or two...

 

as Treasuries reversed almost all their losses on the week...

 

Not a fun week for precious metals (or oil for that matter)...

 

 

VIS compressed back to the market (as hedges were lifted) but we note that market breadth was weak - suggesting the macro hedges were lifted as single-name positions were reduced also...

 

Charts: Bloomberg and Capital Context