Black Friday

Tyler Durden's picture

Unleash hell...

And this...

Worst Start To A Year... Ever!

 

It's ugly in 'Murica...

 

Of course - it's not just US, China has collapsed this year...(Worst start to a year ever)

Japan was a shitshow..

 

And Europe is in a bear market having erased all of the Q€ gains... (Worst start to a year ever)

 

The day in stocks...

  • *NASDAQ COMPOSITE INDEX SINKS 2.7% TO LOWEST IN 14 MONTHS
  • *S&P 500 FALLS 2.2% TO LOWEST LEVEL SINCE AUG. 25

But that level was heavily defended...

 

 

The week in stocks... worst 3-week drop in S&P, Dow, Trannies, Small Caps, and Nasdaq since Aug 2011

 

2016 in stocks...

 

Since The Fed rate-hike in stocks...

 

Since The Fed across asset-classes...

 

Since the end of QE3 in stocks...

 

It's a bloodbath in FANGs and Biotechs...

 

FANTAsy stocks are really ugly year-to-date (cap-weighted FANGs are down 12% YTD, Biotechs -17%)

 

Surprise - Equity markets catch down to on balance volume...

 

Financials bloodbathery fell to catch down to credit...

 

On the week, credit remains the leader...

 

But credit signals more pain to come... in stocks...

 

Especially in the most credit-sensitive small caps...

 

And VIX...

 

With Energy credit risk at its highest on record...

Carnage Continues, Energy Yields Set Record High

(Bloomberg) -- WTI oil has dropped to a new 12y low, falling below $30/bbl, triggering a broad sell-off across asset classes, with equities dropping 2.6%, HY ETFs falling 1.6% (lowest levels since 9/09), HYCDX slipping 1.1% and cash bonds falling across sectors led by oil companies in the Energy sector.

 

The BofAML U.S. HY Energy index YTW set a new historical high last night closing at 17.43%, surpassing the 17.048% close on 12/5/2008 during the height of the financial crisis

 

As of Wednesday’s close, the BofAML U.S. HY Energy index option adjusted spread to Tsys closed at +1,501, eclipsing the previous wide level seen at the height of the crisis of +1,494 on 12/5/2008

 

Energy bonds were roiled led by Sanchez Energy which plummeted 32% intraday followed by EP Energy (-15%), Whiting Petroleum (-13%), and Oasis Petroleum (-11%)

 

As Energy, Materials, and Financials lead the collapse in stocks since The Fed rate-hike...

 

Treasury yields collapsed this week (with the curve flat)...

 

And the USD Index gave up some of its gains to end the week up 0.3%... USDJPY dropped 0.25% on the week

  • *RUSSIAN RUBLE WEAKENS 2% TO 77.603 PER DOLLAR, RECORD-LOW CLOSE

Commodities were a mess with Gold and silver best (unch to modestly lower) while copper and crude were clubbed...

 

Crude closed below $30 for the first time since September 2003...

 

Charts: Bloomberg

Bonus Chart: Rate-Hike Odds have plunged...

Bonus Bonus Chart: Value is collapsing and Momentum remains high post-QE3 - we suspect that will revert... (h/t @groditi)