We started the week exuberant wearing the cleanest dirty shirt scoffing at the weakness of 'foreign' markets. By the end of the week, the Dow has dropped 5 days in a row in a week for the first time since May 2012 and the Nasdaq had its worst week in 9 months. The S&P dropped back into the red for 2014 - despite a late-day ramp effort - tracking AUDJPY all day long once again (and financials also red for 2014). VIX surged above 18% (and its term structure steepest since US downgrade) as credit spreads blew wider. Treasury yields tumbled 10-14bps on the week - the biggest drop since June 2012. Gold prices rose over 3% on the week to 6-month highs. Copper saw its biggest 2-week drop in 30 months. The USD slipped lower on EUR and JPY strength (JPY +1.9% - biggest surge in 7 months). YTD Gold +14.7%, S&P 500 -0.07%.
AUDJPY was in charge once again..
[4]
The S&P joins the Dow back in the red for 2014...
[5]
As All but Trannies and Russell lose post-Putin gains
[6]
Financials are now red for 2014 and Biotech is slamming Healthcare lower - leaving Ites the big winner for the year so far...
[7]
Seems like credit markets were right - whocouldanode?
[8]
Treasuries soared
[9]
Gold ripped as copper plunged...
[10]
Protection was in big demand in the afternoon into the event-risk-prone weekend...
[11]
VIX surged and the term structure steepened to its highest since the US downgrade...
[12]
Gold is the easy winner year-to-date with HY credit worst followed by the S&P 500...
[13]
Charts: Bloomberg
Bonus Chart: Gold nears the golden cross (50DMA >> 200DMA)...
[14]