Perhaps this sums up the day for many FX, bond, equity, and oil traders today...
[8]
Incredible Volatility today - 100 point roundtrip in the S&P, and 800 points in the Dow - all driven by a halt in Ruble Trading, the European close, and Kuwait pissing on the US market's fireworks...
[9]
Today's melt-up into the European close was the biggst of the year...
Freight Train Rally - now at a record speed for this time of day for 2014: $ES_F [10] $SPY [11] pic.twitter.com/dNx1H20p1e [12]
— Eric Scott Hunsader (@nanexllc) December 16, 2014 [13]
And the volatility was incredible across the entire US equity market - as the S&P ramp ran stops to yesterday's highs then gave it all back...again around the EU close
[14]
Close-up on S&P 500 e-minis... the machines ran all the stops everywhere today...
[15]
A massive roundtrip in cash markets...
[16]
Leaving most of the major indices down over 5% from all-time-highs...
[17]
Financials starting to show some risk...
[18]
The Russian markets dominated headlines...
[19]
but the US credit markets were more worrisome as it appears the risk has finally started to appear in the investment-grade credit market.
High yield bond yields hit 2-year highs... and spreads to 18 month wides...
[20]
And Investment Grade credit has become infected...
[21]
Longer-term...
[22]
Every asset class underwent a roller-coaster...
Treasury yields fell 10ps, rose 10bps then fell 8bps...
[23]
and the Treasury yield curve is following the exact smae trajectory as it did into the last recession/tightening..
[24]
Silver and Gold pumped and dumped.. as oil dumped and pumped and dumped...
[25]
FX markets turmoiled leasving the USD lower on the day but USDJPY wa sin charge of stocks - and major unwinds into the close - which is very unusual ahead of FOMC tomorrow and Japan tonioght
[26]
Across the asset classes today - these were the events..
[27]
Finally we wonder... who was this mysterious $3.7 billion trader today...
Take a look at these 31 $SPY [11] trades today worth $3.7 billion. Anyone know what they are from? pic.twitter.com/EGIdCHiNDG [28]
— Eric Scott Hunsader (@nanexllc) December 16, 2014 [29]
But don;t forget...
pic.twitter.com/E52gefmevt [30]
— Not Jim Cramer (@Not_Jim_Cramer) December 16, 2014 [31]
Charts: Bloomberg