Junk Bonds Dump To 3-Month Lows Amid Longest Curve Flattening Streak In 6 Years

Tyler Durden's picture

Ignoring the surge in junk bond risk and collapse of the yield curve, stock investors were overheard saying...


Gold remains the post-Saudi-purge winner...


Stocks rebounded today. The Dow has nopw beenup 7 days in a row thanks to today's last second ramp...


But despite small caps bounce, they remain red on the week... as Dow, S&P, and Nasdaq scramble green


VIX was once again driven back below 10 to ensure a green close for The Dow etc...


The Media complex was busy today with rumors and headlines surrounding the AT&T, Time-Warner deal and the removal of CNN...


FANG Futures began trading today and FANG stocks ended lower but dip-buyers were evident...


Credit Markets continue to collapse... HYG at 3 month lows...

HYG (the high yield bond ETF) has seen outflows for 8 of the last 10 days)

With stocks and bonds notably divergent...


Notably the last few days have seen both bonds and stocks bid (just as both were sold in late Oct)


Treasury yields rose modestly today...


The Treasury yield curve continues to flatten. 5s30s is now down 10 days in a row - the longest flattening streak since March 2011 and Dec 2005 - if it goes 11 days that will be an all-time record.

And even banks are now starting to pay attention...


The Dollar Index drifted lower again, hovering at pre-payrolls levels...


Chaos in crude markets today as the DOE data sparked WTI selling, RBOB buying but then the machines took over and pumped'n'dumped it...


Gold and Silver managed to hold onto gains after selling off non-stop once Europe closed...


Finally, Bitcoin saw some crazy moves today after surging on the suspension the SegWit2x hard fork, then collapsing and then jumping back higher again - all on heavy volume...

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Solosides's picture

If, like me, you have made over 1500% on your original Bitcoin investment, dont forget to cash some of that in so you can buy weapons for efficiently slaughtering bankers and politicians during the uprising!

Raffie's picture

For your guns go here to make it quiet - https://silencerco.com/

Most crimes happen at night, so when SHTF here is what you need - https://www.readymaderesources.com/product/night-vision-devices-pvs-14-n...


Seeing at night and having a surpressor will be invaluable. 

Solosides's picture

I WISH I had $3,800 lying around to buy a night vision scope.

Raffie's picture

The non WP version is a little cheaper. If you really think about it, the cost is about 1/2 a bitcoin. 

Raffie's picture

Piano wire is more amusing.

BreadnH2O's picture

Assuming you get the tension, ergo tuning, correct... Then you can ask "Are you ready to testify....?"


... jump to 35 second mark...

Implied Violins's picture

Wood chippers are more satisfying.

Raffie's picture

Fargo'ing someone is amusing as well.

Vlad the Inhaler's picture

Nah just keep going long bitcoin on margin, when the time comes you can just liberate some torches and pitchforks from your local big box store.

Hammer823's picture

All morning losses reversed.  Even the small drops get bid right back to even.  The most scripted market in the world.  With so much depending on it, it’s no wonder they rig it with such impunity.

Kido's picture

Have you seen that Nasdaq 100 action? straight up in an intraday trendline and never looked back until the last 10 minute but was still panic bid into the close

D.r. Funk's picture

Yeah these are all "unprecedented" final stage-like occasions. Whether controlled or not, pretty apparent it's the final sputtering of cocaine-fuel or results thereof


BlueHorseShoeLovesDT's picture

Man those Financials were ugly, I guess all we will need from now on is Amazon.

There was a day when the yield curve and financials were a telll on the Economy, but that was before 300 p/e represented great value.

Tim Knight from Slope of Hope's picture

Precisely one year ago today............ 

Traderone's picture

What a dip buying opportunity that was. 

Kido's picture

Buy 500 points dip free 5,000 points over a year. What a good deal

D.r. Funk's picture

You mean opportunity to add another mountain to the equity bubble, dick

"Oh, what a lovely buying opportunity"

"Oh, I need more sugar, I'm a pathetic money whore"

Traderone's picture

One has to pay one's bills old boy.  I would rather make a living being realistic about the stock market than ranting and raving about the unfairness of it all from mommies basement like you.  I politely suggest that you GET A FUCKING LIFE.

BlueHorseShoeLovesDT's picture

Absolutely, I do this to make money not a statement that is the closest to Tilting at Windmills that I have ever seen.

Keltner Channel Surf's picture

Nice to actually see regular discernable bodies on the Daily candles again, fellas. With all those little dojis, charts were beginning to resemble a solar map of a distant portion of the Andromeda Galaxy.

BlueHorseShoeLovesDT's picture

I actually sat today out, I have had a really good week.

So I just checked to see how much Amazon was ramped throughout the day.

D.r. Funk's picture

Mommy and daddy's basement line. Nice. If you think unfairness is my mantra youre as dumb as an armadillo on weed

BlueHorseShoeLovesDT's picture

Given the amount of money you lose I would think you are a denizen of mommy’s basement.

BlueHorseShoeLovesDT's picture

How fucking stupid are you, no wonder you work in TV

BlueHorseShoeLovesDT's picture

Let me guess, stupidity is your mantra.

ReturnOfDaMac's picture

Traderone, instead of getting a life, I would just suggest he STFU and BTFD.

Squid Viscous's picture

Tim's a little slow on the uptake, but good at drawing smiley faces on "topping patterns" which end up to be basing patterns of face ripping rallies...

slope of "nope i can't pay for that" lost all my $ shorting but the charts looked so bad!

buzzsaw99's picture

give 'em hell squid.  i doubt tim even has a face left after the past seven years.  as for traderone, i watched him lose $25K (probably half his net worth) in like five minutes one time.  listen to those two at your own peril.

Squid Viscous's picture

yeah tarder one is an arrogant little prick for sure, adds very little here,

buzzsaw99's picture

tim's motto seems to be:  keep day trading until it's all gone bitchez!

tim's motto seems to be:  follow me down the rabbit hole wee!

wait a tick, that seems to be zh's motto here lately too. hmmm.  could it be that blodget, knight, and tarder one are all tylers?  lulz

Solosides's picture

No one here gives a fuck about your missed opportunities in the rigged casino

RougeUnderwriter's picture

Retail dogs are barking

D.r. Funk's picture

Oh. I get it. Valuations were concerning to the granddaddy bank Bis, almost 3 years ago. We're taken 30% higher. Valuations had potential danger to Yellen, over 2 years ago. Then again 9 months ago. We're taken 10% higher. Then 2 months ago, again. We're moved another leg. Nice game. SEE MY FINGER



SUB 11 VIX STREAK will die, after this round, once and for all


1% 3% DRAWDOWN LAPSE closer to ending, they know it


ADDITIONAL FORGED LEG closer to ending, they know it



Shiller pe 31.58 (2nd place) 4.5% over 1929

87% above mean 96% above media

Squid Viscous's picture

ridin the qqq train uptown, bitchez!

Keltner Channel Surf's picture

In a crass new set of commercials slated to air on Bloomberg TV, NASDAQ celebrity spokesman Morrissey sings:

The more that you short me, the higher I get, you're wasting your time

I will feed a green bar -- with your head on the bar
I am now a central part of your margin clerk’s thoughts
whether you care or do not;  yeah, I've made up his mind

The more that you short me, the higher I get, you're wasting your time

Beware, there's more momentum from lonely dove Fed chairmen
While you sleep, futures creep up to to your stops
like a bad dream that you can't wake, take the easy way -- you can’t lose:

Just buy the QQQs  . . .  oh, buy the QQQs

(The higher I get … now, you’re asking for it)

shankster's picture

No Dumping on Fudge Hill.

Games Without Frontiers's picture

November 2007, it’s where we are. Everything is frotholicious.

PeeramidIdeologies's picture

Gonna need a deposit this time...