Today some very significant moves across asset-classes - despite the apparent close-to-close 'blahness' of stocks (Dow, S&P, Trannies small red, Nasdaq green) and bonds (30Y unch, 5Y +2bps) from Friday's close. The USD surged to fresh 15-month highs, ripping another 0.6% higher as GBP, EUR (1.28xx), and JPY (106.xx) all faded dramatically. US equity markets entirely decoupled from JPY (in fact became negatively correlated) and US Treasury yields ripped higher - tick for tick with USDJPY's rise. Gold and silver slipped 1% on the day, copper limped higher (after an early plunge) and oil rebounded to close with a small loss near $93 (Brent under $100 for first time in 14 months). Late-day news of 'delayed' sanctions sparked the standard post-EU-close buying panic, regained S&P 2,000 (and Futs hit VWAP), and ensured Friday's bad-news-is-good-news jobs meme stands.
S&P 2000 - that is all...
[6]
A quick look across the markets... correlations shifting dramatically
[7]
And in more detail...
[8]
With stocks holding post shitty jobs data gains...
[9]
US equities ended mixed but closing changes hide the volatility...
[10]
As S&P 500 2,000 was all that mattered again...
[11]
And S&P futures once again did the VWAP algo ramp thing...
[12]
The USD ripped higher again...
[13]
to fresh 15-month highs...
[14]
Treasury yields surged as the USD pushed higher... but 30Y ended unch...
[15]
PMs dropped around 1% on the day as the USD surged...
[16]
Charts: Bloomberg
