Bloodbath

Tyler Durden's picture

You know it's bad when...

But, but, but... Fed... FANGs... Decoupled... Services... Netflix... Unicorns... Cramer...

 

The day started badly (as China devaluation stress crushed carry trades and sucked liquidity out of the world, slamming USDJPY, US stocks, bond yields, credit, crude, and copper lower)...no late-day rally today!

 

*CANADA STOCKS ENTER BEAR MARKET AFTER 20% DROP FROM SEPT. 2014

 

All that hope as China lifted its circuit-breaker rule and crude briefly rallied... but stocks carnaged back to overnight lows late in the day... Another bounce into the European close then SELL MORTIMER SELL into NYMEX close

 

Since the start of December, it's ugly...

 

The NASDAQ is rapidly losing its post-QE3-End gains...

 

"Policy Error" Much?

 

"No Brainer" is down 28% from its highs...*APPLE CLOSES AT $96.45; FIRST CLOSE BELOW $100 SINCE OCT. 2014

 

FANTAsy stocks tumbled deep into the red for the year (yes even NFLX!!) Facebook, Amazon, Netflix, Tesla, and Alphabet... all red...

 

Financials caught down to credit...But just keep talking up NIM and their "no brainer"-ness

 

VIX pushed above 25...

 

VIX term structure inverted...

 

Credit suggests more to come..

 

Stocks are "getting there"...

 

Catching down to breadth...

 

Away from the excitement of stocks...

Treasury yields tumbled further (some selling pressure as CNH defense suggested China selling)...

 

The USD Index tumbled back into the red for the week as JPY strength continued...

 

USDJPY closes at 11 month lows...

 

Commodities split between growth and safety as PMs rallied and crude, copper crumbled...

 

as Gold and Silver Surged...

 

Charts: Bloomberg

Bonus Chart: What did you think would happen?