And once again - the hint of central bank action is all that matters as everything smashes higher (from bond yields to stocks and crude) on yet another leaked ECB QE headline... so the three words that everyone dreads hearing tomorrow are...
While today's big move in stocks was on ECB QE trial balloon headlines... which hit at around 0935ET
[11]
And as is clear, cash indices were stick-saved - but notice Small-Caps could not escape the scene of the ECB headlines crime... off the lows as the ECB headline hit...
[12]
But look at what happened in EURUSD around the headlines... priced in?
[13]
Canada's surprise rate cut was perhaps the most un-priced-in... pushing the Loonie to its weakest since Q1 2009..
[14]
But overall, the US Dollar ended the day flat (pulled higher by CAD weakness and lower by modest EUR strength)
[15]
The question is - when will this convergence occur? And which will move the most ST rates or FX)
[16]
Treasury yields were extremely volatile today with 30Y breaking to new record lows before spiking 10bps higher intraday to close modestly lower in yield). 2s30s flattened further...
[17]
Despite TSY yields being down 20-30bps from the Dec FOMC, stocks continue to find support there...
[18]
But once again today, Financials were today's laggards and energy stocks the leaders...
[19]
and in a crrious case of deja deja deja deja vu, energy stocks squeezed higher on 'hope' that this time is different - but energy credit pushed to new record wides...
[20]
Despite hopeful statements of the precious metals demise, gold closed the the day unchanged, silver up over 1%, as copper and crude pushed higher after ECB headlines hit...
[21]
Copper can't break away from the China crash ledge...
[22]
Crude was smacked around by various headlines from Davos, OPEC, Saudi Aramco, and Oman today...
[23]
Charts: Bloomberg