Stocks Suffer Worst Losing Streak Since 2011

Tyler Durden's picture

The year's best performing major index was its biggest loser this week. Trannies tumbled almost 4% - the worst week in 22 months. The rest of the indices fell 2-3% with the Russell 2000 down 4 weeks in a row for the first time since November 2011. Dow ends -0.5% and Russell -4% for 2014. Away from stocks, Treasury yields collapsed today erasing most of the post-GDP losses and ending the week only 3-5bps wider at the long-end and 1.5bps lower at the front-end. 10Y closed under 2.5%. The USD Index mirrored bonds, surging on GDP and then plunging today to end the week up 0.35%. Gold and silver oddly decoupled today (silver lower) ending week down 1% and 2% respectively on the week. Ugly week for WTI crude, ending under $98 (Feb lows) down 4.4%.  High-yield credit spreads rose 9.7% (to over 350bps - worst since Nov 2013) for the worst non-roll week since May 2012.

 

Equities actually held gains post payrolls...

 

But end the week notably lower... Worst Dow Friday in 12 weeks...

 

Builders have tumbled to 9 month lows...

 

Equities caught down to credit's post MH17 warnings this week...

 

Big roundtrip for Treasury yields this week...

 

FX roundtripped too as GDP gains gave way to Jobs losses... still up 0.35% on the week...

 

Gold and Silver oddly decoupled today...

 

But oil prices tumbled the most - down 4.3% - the biggest drop in 7 months...

 

Charts: Bloomberg

Bonus Chart: High-Yield is flashing bright red...

 

Bonus Bonus Chart: Camera-on-a-stick down 15%...