Copper Crash And Yield Curve Carnage As Tech, Trannies, & TBTFs All Tumble

Tyler Durden's picture

Today was a day in the upside-down: Banks underperformed Tech; High tax underperformed Low tax; Momo outperformed Value; Nasdaq outperformed S&P; and VIX down with stocks down...


While Nasdaq (green) outperformed on the day, and was bid at the open, Trannies (blue) underperformed; note that as Europe closed, everything rolled over....


Only Trannies are holding on to gains post-Tax vote, post-Ross-Rout-Retraction...


For the first time in 7 days, high-tax companies underperformed low-tax compaies...


Momentum outperformed value for the first time in 6 days...


The Tech sector clung to green on the day as Financials leaked lower...


While tech outperformed banks, they all rolled over after the European close...


High yield bond prices have now closed below the 200-day moving average for 20 days straight (the longest run since April 2016)...


Treasury yields were lower across the board today as the long-end continues to outperform...10Y and 30Y now lower in yield since Friday...


The yield curve carnage is accelerating...


The Dollar Index gained on the day but reamins in a tight range for the last week...


Gold and Silver were slammed early on once again (tumbling to 4- and 5-month lows respectively)...


Notably gold was slammed even as the dollar index wasnt moving significantly...


But Copper was the biggest news  - plunging 4.5% back to 2 month lows (biggest drop since Jan 2015). WTI managed to hold gains ahead of tonight's API data...


Finally, Bitcoin surged  to a new record high today (at $11,850) - up 50% since Square's announcement (while SQ is down 20%)...

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Solosides's picture

A little inspiration for everyone today! But imagine, instead of it being animal's blood in Bangladesh, it is bankers blood on Wall St. Something to be optimistic and hopeful for.

Hammer823's picture

Important to remember that the US stock market has been Nationalized. It’s why we can have a bull market when the data is weak and news is bad. It’s the exact reason why “bad news is good news” exists in the first place. Market indexes will go up one way or the other, simply because they have to for our economy to work. Trade accordingly.

HowdyDoody's picture

Trannies tumble? That's a bit genderist.

BennyBoy's picture





Once it stops dipping.

Nobodys Home's picture

Good comment...seeing it's coming from a puppet!

D.r. Funk's picture

It's not fully accurate because the rate of incline has SOLELY resulted in a systemically vulnerable equity level

There's no argument and if you think about it it's fucking beyond obvious. but no one thinks about it.

That the manipulation is benevolent. I mean come on. There's no argument. So, really:

You're going to argue that the over-overbloated demonstrably dangerous levels,

Were guided there by a benevolent authority? Healthy perpetual pushing?

That is interpreted as "good and bad is always good"?

GTFOHERE Laughable. The manipulation has

merely created underlying susceptibility



Kaiser Sousa's picture

another day, another proof positive that Donald Chump is just another Zionist Entity ass licking puppet/traitor… boy, those Learned Elders of Zion must be jerking off n hell seeing how easily many of their satanic protocols have come to fruition.

on a side note, some asshole who boasts of his trolling me regarding my absolute hatred of the MoneyChangers, keeps demanding that i elaborate on why what they do & represent is so abhorrent…i won’t of course…but again, biblical history sheds light...

"Behold, all souls are mine; as the soul of the father, so also the soul of the son is mine: the soul that sinneth, it shall die.

But if a man be just, and do that which is lawful and right,

And hath not eaten upon the mountains, neither hath lifted up his eyes to the idols of the house of Israel, neither hath defiled his neighbour's wife, neither hath come near to a menstruous woman,

And hath not oppressed any, but hath restored to the debtor his pledge, hath spoiled none by violence, hath given his bread to the hungry, and hath covered the naked with a garment; 

He that hath not given forth upon usury, neither hath taken any increase, that hath withdrawn his hand from iniquity, hath executed true judgment between man and man, 

Hath walked in my statutes, and hath kept my judgments, to deal truly; he is just, he shall surely live, saith the Lord God.

If he beget a son that is a robber, a shedder of blood, and that doeth the like to any one of these things,

And that doeth not any of those duties, but even hath eaten upon the mountains, and defiled his neighbour's wife,

Hath oppressed the poor and needy, hath spoiled by violence, hath not restored the pledge, and hath lifted up his eyes to the idols, hath committed abomination,

Hath given forth upon usury, and hath taken increase: shall he then live? he shall not live: he hath done all these abominations; he shall surely die; his blood shall be upon him."

Ezekial:18 (4-13)


Ps:no commentary on markets cause they do not exist.

Solosides's picture


You should be perfectly happy with bankers raping you daily with talcum powder and sand as the lubricant. Dont act like an entitled millenial snowflake. After all, this is America, and absolutely nobody else in the universe has what we have!

silverserfer's picture

hey  moron, the international banking cartel he is talking about opresses 3rd world counties all over the world. You live in a self imposed bubble of niaeveity.

Solosides's picture

And where did I say that their raping and plundering only occurs inside the US?

silverserfer's picture

our country has become great from our heritage and innovation. Not the empire building military industial complex. Dont confuse the two. And knowingly calling someone you know  not to be a liberal a snowflake is assinine. 

Nobodys Home's picture

I'm not defending him but I read that as sarc. Perhaps I am an unknowing sheeple of the trolls.

Hey that'd be a good movie! Sheeple of the Trolls.

Produced by Harvey Weisenstein, directed by Guillermo Manuel Hildago Garcia Vega Marcos Del Toro.
Starring a strong black woman with a goofey white husband and adopted asian children

silverserfer's picture

Aint nobody got time for mutherfuckin sarc when coppers down 50 cent!

Nobodys Home's picture

300 million inflamed anal sphincters?

Snaffew's picture

I -enjoy most of your posts, but no comment on biblical proverbs becaue the bible is all bullshit imo

Kaiser Sousa's picture

im not religious man...

simply pointing out how even 5 thousand years ago some recognized theivery via usury, how evil it was, AND who were the perps...

think of the above designations of what is "just" and what is not...who should persish and who should have life...

and then think of the world and what it has become under the control of the Rothchild dynasty, the Central/Commericial banks the own, and governments theyve usurped...

strip out the religion u r still left with the truth...



Nobodys Home's picture

They knew they had the recipe down after financing both sides of Waterloo. Then went full Bankstertard! Damn usurious geniuses! Evil to the core! Red Shield house of misery. Serfdom debt propagators!

Madolf Sanders Hitler's picture

we'll have to read up on this Waterloo thing

Nobodys Home's picture

friggen high speed cable acting up again!

Nobodys Home's picture

QuintupliDupe! Hey. I'm tryin gimme a break!

Nobodys Home's picture

"neither hath come near to a menstruous woman,"

How the heck do you do that? Put them in the bleeding house out back?
I wouldn't even have minded the usurious crap if I could have foregone all those many hundreds of crazy moments in the past. Being 60 with a 60 year old woman I don't deal with that shit anymore. We did have "theChange", which also sucked, but that seems to have passed. It's nice now....except for the usurious crap:)

D.r. Funk's picture

Happy Raise The MotherFlicking Rates Month!





on the additional 600 spy stack since nov of 16




Fundies's picture

It's carnage I tell ya !!!!

Mr. Schmilkies's picture

What, no spoiler alert for Stranger Things?  

Clock Crasher's picture

Uncomfortably numb

buzzsaw99's picture

dr. copper meets monkey hammer.  damn.

DEMIZEN's picture

burn burn burn 

the ring of fire. maximum chaos it is. merry christmas bitches.

DEMIZEN's picture

the only thang that will go up this month is the ETF futures. 

Vlad the Inhaler's picture

Wait for the punch line, net spec longs in copper at $4B, highest since 2011.

DEMIZEN's picture

copper down makes very lil sense. i can not think of one good reason to explain it. overbought yes, but everything is overbought. kill margin margin trades? no idea. happy  i was dormant this week.

Nobodys Home's picture

Didn't new housing starts drop this month? Plus it's almost winter. Nobody needs copper sulfate for their pools.

Dewey Cheatum and Howe's picture

Copper is down because the soft data is catching down to the hard result?

No fucking real growth as far as the financial eye can see. Validating the nosing over of the long end of the yield curve is the devil at the door.

silverserfer's picture

oh I know why its down, I was just about to take 200 lbs of cu and brass in for xmass money for the kids. Of course its down! Fuck it im not sellin.