Who was buying today? Were they feeling lucky?
Stocks went up - again - with the Dow extending to almost 900 points in 4 days and pressing towards record highs...and S&P 500 hitting new record highs. At the same as bonds rallied back close to unchanged, USD was bid, and commodities collapsed led by Silver and Crude.
S&P closed at record highs but missed out on intraday highs by 1 point...
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This is the biggest 4-day surge in over 3 years...
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with everything up 5-6% off the pre-Fed close... in 4 fucking days!!!
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Who could have seen that coming?
S&P record high needs USDJPY > 120. Let's do this Kevin
— zerohedge (@zerohedge) December 22, 2014 [6]
As USDJPY did indeed lead the way - as 120 was all that mattered
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Because Fun-durr-mentals...
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Trannies love lower oil prices (and higher ones)...
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Energy and Utes sold off but Tech surged and homebuilders rallied 0.5% on the back of a total freaking collapse in existing home sales... very bullish
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The USD rose notably from the European Open to the US close...
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Treasury yields roundtripped with 10Y and 30Y unch by the close...rallying during US session
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and the decoupling since FOMC is becoming a joke... in Treasuries...
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and crude...
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Credit notably unimpressed today... HY spreads closed at the wides of the day as stocks ripped to record highs
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and shorts set out positions today again too...
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Commodities were clubbed like baby seals with silver and oil synced... mirroring The USD (with plenty of beta)
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Crude continues to swing between $59ish and $55ish...
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Charts: Bloomberg
Bonus Chart: Stocks losing their FX Carry pillar of support...
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