While equity markets were in focus for the mainstream, the big moves today occurred in Treasuries and oil prices. From the GDP release this morning, Treasury yields surged higher, rallied briefly after FOMC, before closing near the high-yields of the day (up around 10bps or the most in 9 months). Oil prices started to tumble at around 1030ET, flushed again on EU close, tumbled early afternoon on sanctions headlines, then pumped-and-dumped after FOMC to close at near 3-month lows (below $100). Equity markets surged on GDP, dumped on sanctions, pumped-and-dumped on FOMC, then lifted to the close. Only the Nasdaq ends the day above pre-GDP data levels. On the day, only the Dow closed the day red. Gold and silver chopped around in a narrow range as the USD index roundtripped from early GDP gains after FOMC. VIX closed modestly higher on the day. The Russell 2000 is -4.2% for July, its worst month in 2 years.
Post-GDP, only the Nasdaq held its gains...
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Post FOMC, stocks roundtripped then limped higher into the close...
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But on the day, only the Dow closed red...and S&P unch...
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Since the MH17 Headlines only the bubblicious Nasdaq is holding on to gains...
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Treasuries dumped...
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Oil slumped below $100 - 3-mo lows...
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Gold and silver tread water but oil dumps...
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Charts: Bloomberg
