Silver Surges As Bonds, Stocks, And The USD End Week Unchanged

Tyler Durden's picture

While The Russell 2000 briefly regained positive territory for 2014 (up 1.5% on the week), the Dow, S&P, and Trannies ended the shortened and low volume week practically unchanged (and the Dow -2.6% YTD). Treasury yields oscillated as bad-news-good-news played out but ended the week practcically unchanged (10Y -1bps, 5Y +1bps). The USD drifted lower today to end the week very modestly positive (+0.1%) as EUR strangeth dominated JPY and CAD weakness). VIX went higher all week (admittedly OPEX-impacted) as underlying stocks remained bid. Credit markets ended the week wider than they opened on Tuesday (despite equity strength). Depsite the USD, commodities rose on the week with Silver and WTI crude up almost 2% and gold up 0.5%. For an options-expiration day, today's volume was very weak. And 2014's best performing S&P 500 sectors... Healthcare and Utilities.

 

While the Nasdaq ands Russell high beta muppets got the attention, the "big" indices ended the week practically unchanged....

 

Despite the OPEX pinners desperate to ramp stocks into the open via USDJPY (which failed)...

 

Leaving the Russell and Nasdaq green in 2014 and the rest lagging notably...

 

With equities being led in 2014 by Healthcare and Utilities...!!!

 

VIX rose all week...

 

Credit ended wider than it opened...

 

 

The USD pulled back to almost unchanged on the week (with plenty of divergence on the week)...

 

And US Treasury yields also rallied back to unchanged on the week...not ethat bonds started rally almost perfectly at 830ET

 

But gold, silver, and WTI crude rallied notably on the week...

 

 

Charts: Bloomberg

Bonus Chart: Of course, equity markets are all about discounting the fun-durr-mentals... (h/t @Not_Jim_Cramer)

 

Bonus Bonus Chart: GroupOff...-33% from AH Highs...