As the massive global dollar shortage ripples its way through carry unwinds and into every asset class... The "truth" is out there...
Wait What? Who couldanode?
[5]
This is the worst run for the S&P in 2 months... and the S&P (and Dow) have closed below their 50DMA...
[6]
Dow down over 600...
[7]
As yesterday's dead-cat-bounce (as we noted) is crushed... (with Nasdaq lagging notably) NOT OFF THE LOWS
[8]
It appears the exuberance of Nasdaq 5,000 is now a long way behing us...
[9]
and if you're waiting for short covering... think again...
[10]
With S&P and Dow joining the Trannies in the red year-to-date...
[11]
Credit smelled it coming....
[12]
Thanks to Moar Surging by the USDollar...Swissy, EUR, Aussie all monkey-hammered...
[13]
This is the fastest rise in The USD In 34 Years...
[14]
and EM FX is baumgartner'd
[15]
Treasury yields - having shurgged off last week's major corporate issuance - are resuming their plunge... (down 4-7bps today and notably flatter)... NOTE: TSY Yields are now 3-4bps lower on the year (outperforming stocks). Bonds have retraced all of the Jobs losses.
[16]
Dollar strength dominated commodities today...
[17]
With crude clubbed back below $49... Stable?
[18]
Charts: Bloomberg