Despite the late-day shenanigans that usually occur on a Friday (especially in light of the end-of-month proximity), the S&P closed red with its worst 6 day run in 5 weeks. The Nasdaq and the Russell managed to cling to unchanged as the Dow, Trannies, and S&P slid 1.3% or so on the week. Treasury yields fell for the 3rd week in a row with 5Y yields plunging 36% in that time - the biggest drop in 25 months. The USD fell 0.2% on the week with GBP and JPY strength the biggest drags. Silver and Copper ended unch after a very volatile week, gold the winner +1% and WTI -2% on the week. VIX was well bid, up 1.5 vols as the term structure cracked to the flattest in 4 months... and JCP is 'Breaking Bad'.
Treasuries extend their win streak to 3 weeks - the biggest drop in 5Y yields in 25 months...
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Quite a dispersion among the US equity indices this week...
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The S&P managed to bounce a litle off the "Summers-Out" lows but the Dow remains in the red...
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Bond yields continue to crater as un-growth trumps any un-taper talk for now...
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The USD fell today led by a notable risk-off shift in JPY carry...
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Commodities were very noisy this week with PMs seeing all sorts of rips and dips...
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Managers appeared to be actively buying protection into the weekend as opposed to selling down the underlying risk...
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Charts: Bloomberg