Stocks Up, Bonds Up, Gold Up, Oil Up, Dollar Up, F'd Up

Tyler Durden's picture

Worst Japanese consumer spending data drop ever - BTFD. China financing slowed - BTFD. European industrial production tumbled - BTFD. US retail sales miss dramatically - BTFD. The worse the news the better the buy-the-dippiness as between JPY (102.50) and VIX (12 handle), US equities shrugged off shitty data and worsening geopolitics to jump to August highs. But it wasn't just stocks... investors piled into Treasuries (slamming yields 7bps lower from pre-retail sales), bought gold (back over $1310), bid for US Dollars (now up 0.25% on the week), and lifted oil prices (WTI $97.50). S&P futures volume was the worst of the week (50% below average). Notable oddities: Copper clubbed today (-2% on the week), Brent-WTI jumped $1.50, and the VIX curve remains inverted for 14th day in a row.

The last 24 hours have been "odd" to say the least - in a new normal way of course... (and volume remains abysmal) with futures driven by the European session one way or another and then stalling as EU closes...

 

On the day, Nasdaq outperformed notably

 

As bonds and stocks were both bid...The MOAR QE TRADE

 

And all that mattered fun-durr-mentally was AUDJPY...

 

VIX cracked back to a 12 handle helping stocks surge...

 

VIX has now been inverted (short-dated risk above longer-dated risk) for 14 days...

 

The entire Treasury curve cracked 5-7bps lower after retail sales hit...

 

And despite a big plunge on retail sales, the USD kept on its path higher (helped by a dump in GBP)...

 

Gold and WTI rose but copper wass smacked lower after Chinese credit data and US retail sales...

 

Brent-WTI jumped $1.50 today... as Brent surged

 

Charts: Bloomberg