As bulls stare unconsolable at today's "drop" in stocks... we suspect this is the thought running through their minds...
The North Koreans Win - A Red Day In Stocks!!
[3]
Driven by USDJPY weakness overnight...
[4]
By way of a rather stunning example of the "markets", today's 0.5% drop in the biggest in 2 weeks as stocks caught down to credit, energy, bond, and macro weakness...
Stocks gave yesterday's levitation back and then some... despite a small bounce at the open as usual... 3rd ugly close in a row...
[5]
The S&P 500 closed back below its 5-day moving average...
[6]
Giving up the Santa Rally gains...
[7]
Stocks catching down to Treasury yields...
[8]
As Treasury yields are now down at pre-FOMC levels...
[9]
Credit markets are less impressed with whatever Yellen did... HY is 16bps wider this week
[10]
Treasury yields overall fell today but bonds were sold after Europe closed amid thin liquidty...
[11]
The USD weakened today on the back of JPY and SEK strength...
[12]
Commodities all snapped higher around 8amET with PMs leading the way...
[13]
Oil trod water near 5.5 year lows as gold jumped after JPY's surge...
[14]
And then there's Civeo!!! but the oil drop is "priced in"
[15]
As after a 2.5% in Europe's Oil & Gas stocks, US Energy stocks are starting to realize Oil prices do matter after all...
[16]
Charts: Bloomberg