Despite the mainstream media's premature exuberance over the 10Y yield breaking above 3.00%, it didn't (according to Bloomberg) but that didn't stop it from closing as close as it can get to the high yields of the year (and back to July 2011 levels) at 2.9905%. The USD drifted getly lower with GBP and EUR strength the biggest drivers. Commodities saw Gold and even more Silver jump at the open then drift while copper and oil limped higher. Volume in stocks was 20% below last Boxing Day which provided the perfect recipe for a VIX smack-down, slow meltup rally to new record-er highs.
The 10Y Yield did not (sorry not) cross 3.00% today (quite yet)...
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The last 2 times 10Y was at 3%, S&P was at 1340 (and fell considerably after) and 1650.
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It's been quite a run off the debt-ceiling lows...
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But the last few (post-Taper) days have been remarkable with among the best runs in 3 years...
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VIX was slammed back under 12% briefly (to 9-month lows) buy bounced for the rest of the day...
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As VIX has been slammed 30% lower in the last 6 days - its biggest collapse since the start of the year...
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Commodities saw gold and silver jump at their open then drift...
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Charts: Bloomberg
Bonus Chart: WTFTWTR...
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