Stocks Stumble As Treasury-Bill Curve Inverts. 'Animal Spirits' Slump

Tyler Durden's picture

So to sum up - US testfires a Nuke, Govt Shutdown looms, Trump Tax plan is a wishlist with no details, Canadian mortage lenders collapse, and animal spirits tumble - stocks close unchanged... so we thought this would help...

 

Bonds and Bullion were bid after the Trump Tax plan was unveiled and banks and stocks sank...

As Citi noted, while the market isn't jumping around on this but there is a bid in US fixed income, taking USDJPY down towards 111.00. All in all, a classic buy the rumor, sell the news on an underdelivered (but fairly presented as such) "big announcement" from the Trump Administration.

Trannies fell for the second day in a row, but The Dow, S&P, and Nasdaq all desperately clung to unch amid late day selling...

 

Stocks still positive post-French-election...

 

But Small Caps ripped to new record highs... because fun-durr-mentals...

 

We note that there was a desperate VIX crush after stocks began to sink following Trump's Tax Plan - have to keep the smoke-and-mirrors dream alive... Despite two good runs at trying to break 2,400, they failed...

 

Of course all the headlines were surrounding the wishlist of tax Trump's tax reform plan but in the meantime, Canada's mortgage lenders collapsed...

 

The Peso and The Loonie tumbled on chatter of a NAFTA withdrawal notice executive order...

 

Government Shutdown concerns grew notably once again (despite hope for a stopgap funding bill) with the short-dated curve inverting notably...

 

'Animal Spirits' have tumbled to 2-month lows...

 

One has to wonder at the market's confidence when 5Y Treasury yields tumble at the announcement of a "pro-growth" tax reform plan...

 

In fact the entire Treasury cirve flattened and fell after the tax plan...

 

But hey Twitter ripped 10% on the biggest revenue drop YoY since the IPO...

 

 

The Dollar ripped higher to run stops from Trump's "strong dollar" comment bounce but the Tax Plan today sparked selling...

 

USDJPY was today's big mover...

 

The machines tried 3 times to juice stocks (via VIX) but each time it fell back to USDJPY's reality...

 

On the heels of a bigger than expected crude draw, WTI kneejerked higher but RBOB pumped and dumped as inventories rose...

 

Gold ansd Silver were bid (as the dollar sank) after Trump unveiled his wishlist tax plan...

 

Finally we thought this was interesting - stock and bond performance since the S&P top in October 2007...

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Bernie Madolf's picture

nothing like tatas and chart porn together!

Pandelis's picture

100 Senators at WH.

When has that happened???

A. Boaty's picture

If I remember correctly, O'Blarner did that too.

Pandelis's picture

Yo bro.

i guess thats news and deserves an article in this blog...

knukles's picture

So everybody's becoming surprised that either we're still on Obie Establishment Land or getting out of it way toooo slow.

Rainman's picture

The bikini girls made me forget what profound thing I wanted to say

wisehiney's picture

I have not seen that much sweet young white pussy in one place since that Lynryd Skynryd concert in the late 70's.

HRH Feant's picture
HRH Feant (not verified) Apr 26, 2017 4:13 PM

Guys wearing banana hammocks shaved? WTF.

Sad to see trashy US culture infiltrating Russia. Purple dreadlocks? Fake tits? Dancing to rap music? Fucking pathetic.

BigFatUglyBubble's picture

LOL bro, the comedy level of the borat swimsuit is not the same with a bikini wax, that was just gay.

 

BigFatUglyBubble's picture

o sheesh I guess Trump will short the dollar and jawbone it back down again next week.

scoutshonor's picture

What? The tremendous tax plan didn't provide the necessary awesome sauce?  Jawboning is not working?

If the next KSA jawbone lights a fire under oil, maybe the wording about who we trust printed on our money can be changed with an E.O.

No Half Measure's picture

A quick strike in the Middle East should come in handy in the next couple of days.  Drive up oil and defense stocks and distract attention from how Trump caves on the wall and Bammycare bucks to keep it alive.

Full steam ahead for the show that never ends!

 

jamesmmu's picture
One Of The Biggest Brand In The World Is Going To Cut Jobs Due To Slump In Sales

http://investmentwatchblog.com/one-of-the-biggest-brand-in-the-world-is-...

adr's picture

It's called dump high fructose corn syrup. 

Ever look at the sugar content of Vitamin Water? Has as much sugar as regular Coke. Healthy my ass. 

I used to love powerade until I looked at the back and saw 45 grams of HFCS. 

geno-econ's picture

Don't know what the charts indicate, but glad I understand Russian devochki.

adr's picture

Where were the black, brown, and yellow people? 

I skied on a mountain once when it was 75 degrees but there was plenty of snow. Awesome experience. Of course some bikini clad girls would have made it better. 

Rock On Roger's picture

Me too, at Big Mountain Montana spring 1985. Girls in their panties and bras and dudes in their boxers. Sitting in the sun watching an impromptu jump contest, partying hard, digging the girls, what a beautiful day. I put my pants back on after I wiped out, the rash was magnificent.

flea's picture

Who cares? I'm moving to Russia!

Fundies's picture

5 steps  forward, one step back..........DOW 25K by Xmas.

Dragon HAwk's picture

No High speed wipe outs, now that would be  a Bikini Video to see.

 

I love your wife's picture

Whoever edited in the guys in plantain hammocks should be fired.

The rest of the video makes me think US Russo relations could be a good thing.

 

"Want to make taste of my fuck?"  Yes.  Yes I do.