Gold is the best performing asset in H1 2014 (just beating crude oil). The USA is the worst-performing macro-economy in the world's majors in H1. The S&P 500 is up now 6 quarters in a row - its best run since 1998. The Russell 2000 had its best month since September but Trannies are leading the Dow by over 900bps year-to-date. "Most shorted" stocks had their 'best - biggest squeeze' month in 11 months. Gold and silver had great months. Today saw stocks rally then fade and bond yields rose then fell (down 1-2bps). The dollar slipped markedly on the day to 2-month lows as commodities surged (ex Oil) with Gold, silver, and copper all reaching multi-month highs (amid short-covering and CCFD unwinds). VIX closed the month higher.
June was quite a month for The Russell 2000 (best since Sept)...not so much the Dow...
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As "most shorted" stocks were squeezed their most in 11 months!!
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Year-to-date, Trannies are beating the Dow by over 900bps!
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In H1 2014, Gold wins...
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In H1 2014, USA's macro-surprise index is the worst... (yes worst!)
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The S&P 500 has now been up 6 quarters in a row - its best run since 1998...
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On the day... Stocks rose and fell... (seemingly not happy about GM)
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Bond yields rose and fell...
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Commodities surged (ex Oil)...
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The USD was hammered today - its worst 2-day drop in months...
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Charts: Bloomberg
Bonus Chart: GM "Total Recall" fallout...
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