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Bonds Soar, Stocks Snore After "Good" News Sparks Hindenburg Omen Uncertainty

Tyler Durden's picture




 

To all the bond shorts who have appeared on mainstream media in recent day sproclaiming the end is nigh... today was carnage for them...

 

For the 2nd day in a row, new highs new lows, advancing and declining measures of the stock market are 'confused' as today's retail sales "good news" had investors unsure of what to do... 3 of the last 4 Hindenburgs triggered notable selloffs and the last one was immediately denied the day after as McClellan Oscillator moved positive...

 

While stocks extended gains early on, today was all about bonds... today's 11bps plunge in 30Y bond yields is the 2nd largest since April 2013....

 

Which smashed yields back lower on the week... after a well bid 30Y auction

 

And decoupled stocks and bonds once again...

 

The initial move in bonds started in Europe, was banged by the "good" retail sales data (implying earlier rate hikes and thus slower growth and thus higher bond prices) and then the IMF walk out sparked more bond buying...

 

The volume was all in the Retail Sales data...

 

And as for the "higher rates and steepening yield curves are great for financials" meme - nope!!!

 

Trannies extended theirt squeeze gains while the rest of th emajor indices trod water on the day...

 

On the week, Trannies remain red and the Dow leads...

 

VIX was monkey-hammered today (driven by VXX and VIX Futures)

 

As we noted earlier, it's all about AAPL...

 

(and AAPL flash crashed today)

 

Which seemed to send the signal from the dark pools to the "open" markets for where the bids were...

 

The Dollar gained ground after better than expected retail sales (thanks to surging gas prices!!!) as JPY bounced back... A weak equity close also saw USD selling...4th day in a row post EU Close saw USD selling...

 

Commodities all drifted lower on the day... (silver flat)

 

Crude backed off on the day after its 7% surge off the lows...

 

Today - trannies love lower oil prices... as opposed to the last 2 days...

 

Charts: Bloomberg

 

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Thu, 06/11/2015 - 16:08 | 6187579 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

So let it be written
So let it be done
I'm sent here by the chosen one
So let it be written
So let it be done
To kill the first born pharaoh son
I'm creeping death

Thu, 06/11/2015 - 16:26 | 6187684 dimwitted economist
dimwitted economist's picture

the stock market will never go down (again) EVER. it will not be allowed... carry on...

Thu, 06/11/2015 - 16:32 | 6187712 Uber Vandal
Uber Vandal's picture

I have found never say never to be a more truthful statement in life.

 

Thu, 06/11/2015 - 17:48 | 6188005 new game
new game's picture

and never say always..

Thu, 06/11/2015 - 16:09 | 6187581 Keltner Channel Surf
Keltner Channel Surf's picture

Algo mission accomplished:  w/Yellen press conference only ~100 hrs away, can’t possibly breach equity index 20 DMAs, just execute another afternoon horizontal fuck-fest to make perfect little dojis.  (Still had a nice day, short no less, you boring scared little hexadecimal bunny rabbits)

Thu, 06/11/2015 - 16:10 | 6187582 Eyeroller
Eyeroller's picture

Hindenburg, Shmindenburg. This SOB is NEVER going down.

Thu, 06/11/2015 - 16:43 | 6187751 JustAboutThatAc...
JustAboutThatActionBoss's picture

No reason why the market should go down.

Thu, 06/11/2015 - 16:15 | 6187620 Keltner Channel Surf
Keltner Channel Surf's picture

“Get out at Break-even”    from  “Get out of the City”   by Ivy

Summer trading’s hard and lonely
Markets moving slowly
The tape is filled with algo swill

I'm trying to get out at break-even
Trying to get out at break-even

Traders are all edgy
It's hard not to go crazy
Just a half-point move,
I’ve got work to do

I'm trying to get out at break-even
Trying to get out at break-even

They’ll take your buy-stop down
Take a look around
Everything just melted up at once
Going on a run
This should be a crime
Can't you see that I'm

Trying to get out at break-even                
Trying to get out at break-even 

Thu, 06/11/2015 - 16:17 | 6187631 wendigo
wendigo's picture

I keep expecting everything to collapse. I've got a mountain of TP to prove it. It now seems possible that the universe will be cruel and keep this shitshow going for the next hundred years. Oh well. At least TP doesn't go bad and is always worth something. 

Thu, 06/11/2015 - 16:18 | 6187635 Rainman
Rainman's picture

That AAPL stop hunt is a thing of beauty, eh ?

Thu, 06/11/2015 - 16:23 | 6187664 Callz d Ballz
Callz d Ballz's picture

some folks had an etrade baby moment today.

Thu, 06/11/2015 - 16:22 | 6187652 MrSteve
MrSteve's picture

Extra doubleplus good points for use of the word "trod"!

Thu, 06/11/2015 - 16:23 | 6187665 disabledvet
disabledvet's picture

I would advise Putin to use the nukes first.

"He's already committed. There is no going back now."

Thu, 06/11/2015 - 16:26 | 6187682 Silverhog
Silverhog's picture

Rome wasn't built in one day nor did it collapse in one day. Shit drags out. 

Thu, 06/11/2015 - 16:43 | 6187754 Ward cleaver
Ward cleaver's picture

Great job calling this bond rebound off of yesterday's news of Pimco dumping treasuries. If Gartman would have been bearish on bond we could have seen a 25 bp move

Thu, 06/11/2015 - 16:52 | 6187794 KansasCrude
KansasCrude's picture

Yeah it never goes down in Zimbabwe either....$5 USD equals a Quadrillion Zim bucks...... How soon till a Kennedy 1964 $.50 equals a $5,000 usd?    You maybe surprised.... at the rate these guys are printing my guess is a lot sooner than you think.

Thu, 06/11/2015 - 16:54 | 6187803 Ward cleaver
Ward cleaver's picture

Great job calling this bond rebound off of yesterday's news of Pimco dumping treasuries. If Gartman would have been bearish on bond we could have seen a 25 bp move

Thu, 06/11/2015 - 17:04 | 6187845 poydras
poydras's picture

It looks like APPL held up well during the liquidation. Dropping a point is no flash crash.

Thu, 06/11/2015 - 17:15 | 6187888 g3h
g3h's picture

Why does anyone still talk about the Hindenburg Omen?

Thu, 06/11/2015 - 19:15 | 6188283 stant
stant's picture

Because its sounds cool as shit. And no one has done a space shuttle omen, yet

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