The S&P 500 managed to get back into the green for 2014 - which means new all-time highs (topping the all-important 1850 level for the first time today). This is the best 2 days for the S&P since mid-October. Only the Dow remains red for 2014 (a 200bps underperformer versus the Trannies!) among the major indices as JPY carry once again dragged its equity cousins higher in fits and starts. Interestingly, VIX and 30Y bonds were not amused and did not join the party - both unchanged on the day. 5Y and 7Y bonds sold off modestly but rallied off the post-data spike highs in yields all through the US day session. The USD strengthened notably (+0.5% on the week) as JPY weakness led stocks. Oil jumped higher on the day to $94.50 (slamming the WTI-Brent spread) and despite USD strength, gold and silver lifted off early lows to close green. Volume was solid today as the 1.5% dip has been well-and-truly ripped (as banks and tech lead the charge).
The Long Bond ignored the party... (though 5s and 7s did sell off modestly...
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As did VIX...
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But stocks tracked AUDJPY and gladly made new all-time highs...
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Which lifted the S&P 500 into the green for 2014 (but leavs the Dow lagging still - by over 200bps from Trannies!)...
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As Financials and Tech led the charge today...
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WTI surged higher (crushing the Brent-WTI spread) as gold and silver recovered off early lows (despite USD strength)...
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Charts: Bloomberg
Bonus Chart: Everyone thank Nomura (the clear BoJ proxy) for saving stocks with the incessant selling of JPY...
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Bonus Bonus Chart: Day after day after day... we open with a rip higher in the "most shorted" stocks... the dash-for-trash trade is still alive and well in 2014 - tripling market performance!!!!!
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