30Y Treasury yields are now over 90bps lower on the year having pushed back to 17-month lows today. On the day the entire TSY yield complex tumbled 5-7bps closing on their lows (with 2s30s 5bps flatter to 254bps - flattest since Dec 2012). The USD kept falling again today (down 1.2% since Friday) with the biggest 2-day drop in 13 months. Stocks tanked as for the 2nd day-in-a-row there was no post-European close bounce. Trannies tumbled 2.5% (biggest drop in 7 months) and were the biggest loser but Russell 2000 fell to 12-month lows (and is set for the frist 6-week losing streak since April 2005). Oil slipped back below $88 and silver faded as gold ($1210) and copper flatlined. Stocks close not "off the lows" again, down 1% from Payrolls. VIDX ended the day above 17, up 1.8 on the day.
The Deer is back...
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The Russell 2000 is back at one-year lows...
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We spent most of the day oscillating around VWAP before real sellers hit in the afternoon...
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On the week, Trannies are down 3.6%...
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From payrolls on Friday - everything is red...
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Year-to-date, Russell is down over 7% and the Dow is getting back close to red...
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"most shorted" stocks are down 4.75% on the week - triple the weakness in the S&P...
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Once again stocks tried to decouple from bonds... but bonds won...
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Treasury yields since the start of 2014 (30Y -91bps, 2Y +13bps)
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On the day, yields tumbled to close on their lows... 30Y at 17 month lows...
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The USD kept falling - biggest 2-day drop in 13 months...
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Commodities were mixed with silver and oil sliding and copper and gold flat...
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Charts: Bloomberg