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USD & Gold Down, Bonds Frown, Stocks Wear The Crown

Tyler Durden's picture




 

While stocks were a one-way street higher today, with the S&P pulling back to yesterday's cash opening levels; the rest of markets did not seem so excited about the prospects for tomorrow. The USD was down (no-Taper), Gold, silver, and oil were all down notably (Taper), Bonds flatlined with the long-end modestly lower in yield (Taper/no-Taper), and stocks rallied (on dismally low volume) in Taper-is-good-news mode. It was all pandas and kittens though as VIX was heavily bid relative to stocks as at least some 'investors' sought protection ahead of tomorrow's big day. This is the 12th up-day of the last 14 days for the S&P 500 - sure, why not?

 

Stocks ramped between US open and the end of POMO then went flat - all other assets moved in a Taper-on mode...

 

While stocks rallied happily - why not close at pretty much all-time highs, the market is teflon - VIX was well bid into it...

 

Commodities were driven back lower after an overnight lift...

 

Shorts had another bad day as the "most shorted' handsomely outperformed - well we cant have them winning for more than one day can we...

 

The USD fell all day with strength in AUD and SEK...

 

Charts: Bloomberg

Bonus Chart: Some food for irrational thought...


 

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