Trannies Top, MoMos Drop; Bonds And Dollar Flop

Tyler Durden's picture

Dow Transports surge almost 1% as Nasdaq and many of the momo names started to weaken. The S&P closed at new highs once again despite weakness in HY credit market and a rising VIX on the day. Started by Draghi, EUR strength implied USD weakness and the greenback gave back the week's gains and then some (as AUD is up 1.8% on the week). USDJPY topped 103 - supporting the S&P. Treasury yields continue to push higher (with 30Y +10bps on the week). Gold and silver recovered their Putin losses as the formers ends above $1350. Oil prices tanked all day (testing $100) but reversed hard on chatter of escalation in Ukraine. It seems more than a few traders were hedging into tomorrow's payrolls number with VIX rising and stocks tumbling into the last few minutes (not helped by chatter of a Russian invasion overnight).

 

USDJPY 103 holds the S&P at record highs...

 

 

On the day, Trannies were top, Nasdaq bottom with the S&P pushing new highs once again...

 

MoMo names surged at the open then drifted...

 

The last few days have seen credit and vol disconnect from stocks...

 

Credit markets didn't buy it...

 

Treasuries were sold all day; 30Y now +10bps...

 

The US Dollar slid led by EUR and AUD strength...

 

Gold and silver surged back above pre-Putin levels and oil dropped auntil it spiked in the afternoon (on chatter of war escalation in Ukraine)...

 

Perhaps the most worrying thing about today is the "most shorted" stocks dumped (providing yet more free ammo for this idiot market to rally to new newer highs)...until it doesn't of course

 

Charts: Bloomberg

Bonus Chart: Deja Vu all over again...