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Bonds Bid & Stocks Skid Ahead Of Payrolls

Tyler Durden's picture





 

Another day of 'spot the difference' between AUDJPY and the S&P 500 saw an odd overnight spike in stocks fade soon after the US open, bounce higher (again) at the European close then oscillate around VWAP (with the ever-ready-to-please 330 RAMP). Stocks remain red for the year and still the worst start since 2008. "Most Shorted" names continue to outperform. Copper and WTI crude were notable underperformers (both ending an oddly similar -1.75% on the week so far) with oil rebounding modestly off 8-month lows into the close. VIX and credit markets were quiet - ending practically unch ahead of tomorrow's NFP. CAD weakness continues (-2% on the week) but the USD leaked lower to unch on the week. Treasuries rallied 2-3bps (and the curve flattened very modestly) with 2Y unch and 10Y -3bps.

 

Spot The Difference

 

Stocks remain red for the year...

 

But on the week, "most shorted" names are significantly outperforming.... (squeezed each morning as usual)

 

Copper and oil have recoupled on the week (coincidentally) as gold ans silver limped higher on the day...

 

Credit markets have been flat for the last few days but hedgers were clearly worried early on...

 

Treasuries rallied all afternoon from the European close...

USD ended the week so far Unch - even after the vol today around Draghi's comments... CAD continues to get hammered...

 

Charts: Bloomberg

Bonus Chart: What is it with 5 oz of Silver for a barrel of oil?

 

Bonus Bonus Chart: The Baltic Dry is down over 25% in the last 2 weeks...

 

The worst post-Christmas Eve performance in over a decade!

 


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Thu, 01/09/2014 - 17:18 | Link to Comment HUGE_Gamma
HUGE_Gamma's picture

I came here for the BONUS CHART!!!

Thu, 01/09/2014 - 17:34 | Link to Comment EuropeanBankster
EuropeanBankster's picture

AA after hours bonus chart?

Thu, 01/09/2014 - 19:34 | Link to Comment MisterMousePotato
MisterMousePotato's picture

I miss the guy who always posted some lingerie babe at the end of his chart extravaganzas. He had generally pretty good taste.

Thu, 01/09/2014 - 18:08 | Link to Comment fooshorter
fooshorter's picture

Bonus Bonus Chart !!!?!!?!?!!!!

 

Thats it! The Rebels are there!

 

 

Thu, 01/09/2014 - 21:03 | Link to Comment AngelEyes00
AngelEyes00's picture

The real bright one's make money on the way up and down, so now the shorting bit takes over until this baby tanks over time.  2014 is a time for popping bubbles slowly as taper continues.

 

Thu, 01/09/2014 - 17:26 | Link to Comment JustObserving
JustObserving's picture

Not to worry, stocks rise 90.346% of the time after the fake paytoll data.  And slver and gold fall 93.568% of time after the data.

BTFD.  And you should have sold your silver and gold.

You will regret that you did not buy TWTR today.

Thu, 01/09/2014 - 17:34 | Link to Comment Smegley Wanxalot
Smegley Wanxalot's picture

I regret the very existence of TWTR.

Thu, 01/09/2014 - 17:30 | Link to Comment Spungo
Spungo's picture

Gold and silver are up, but my gold and silver mining stocks are down. What the shit is this?

Thu, 01/09/2014 - 17:43 | Link to Comment Al Huxley
Al Huxley's picture

a) because they're mining stocks and

b) because tomorrow's NFP and everybody knows what that means.

Thu, 01/09/2014 - 17:42 | Link to Comment Al Huxley
Al Huxley's picture

CAD's dropping like a pink sheet penny stock in the 'dump' phase of a pump-and-dump...

Thu, 01/09/2014 - 18:17 | Link to Comment devo
devo's picture

What can the narrative become now that good news and bad news are both factored in?

Thu, 01/09/2014 - 19:35 | Link to Comment MisterMousePotato
MisterMousePotato's picture

Easy. "Factored in" becomes good news. Or bad news. Does it matter?

Thu, 01/09/2014 - 19:46 | Link to Comment satoshi101
satoshi101's picture

EURO skyrockets ( up 0.2 % )

A few hours ago ZH told us EURO had 'tumbled' cuz it was down ( 0.07% )

***

First they destroyed the ZAR then the INR and now after the AUD.

Keep talking folks, you will only drive more people to the AUD.

CNY is still holding better than USD.

DOW keeps going to the MOON, and probably will keep going given that FED-FIAT is unlimited and INFINITE.

The worst performer of all is GOLD MINERS. hmmmmm

I'm surprised that the SGD is getting hit hard like the AUD, thats a sad day.

***

Uncle Sam and his ability to reach out and kill any baby or woman or child worldwide is the clear winner, with nobody in sight to stand in his way.

USD/DOW to the moon.

 

Thu, 01/09/2014 - 19:59 | Link to Comment disabledvet
disabledvet's picture

"let me say this Gentlemen...fear...for lack of a better word...is good." No? That wasn't the line in the movie? then why is everyone so afraid then?

Fri, 01/10/2014 - 01:29 | Link to Comment TheRideNeverEnds
TheRideNeverEnds's picture

the market is going higher before it goes any lower, expect 1855 tomorrow on the number. 

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