Retirement is still on for now. Late-minute desperation (in EURJPY) dragged the Dow just back over 16,000 and the S&P limped above 1,800. Bonds were sold (though less aggressively than gold and silver) and the USD rallied as early exuberance gave way to an uglier realization that good-news-is-really-bad-news after all following today's data. Volume was average as VIX continued to rise to 14.3% - its highest close since mid-October as we see the 4th session in a row with selling into the close. Today was the worst frst-day-of-month for the S&P since May.
EURJPY and S&P 500 joined at the hip - clearly EURJPY was the algo lever to ensure an 1,800 close...
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4th day in a row of late-day selling pressure...
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As VIX is rising rather notably...
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Disconnecting further from stocks...
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How long before the hedges are rotated into actual unwinds of this?
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as credit remains thoroughly unimpressed...
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An ugly day for precious metals...as oil rallied further
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Charts: Bloomberg