After all the event risk headlines from Friday sparked significant volume (below the 100DMA), thanks to a Chinese RRR cut, "everything is awesome" again...
All hail the Central Bank Put... but note that stocks just could not break above Friday's cliff...
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Cash indices today were led by Trannies - which now love higher oil costs...
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And only Trannies are green from Thursday's close...
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While US equities loved the RRR cut, Chinese traders (seen here)...
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Were less excited...
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Additionally, DAX's big drop from Friday was not retraced and the German index is rolling over...
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After 4 down days in a row, the USD rallied quite notably today led by EUR weakness and AUD plunge (after surging on RRR Cut) fed by Stevens jawboning about "not being surprised if AUD went lower..."
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Treasury yields rose modestly close to close with steepening led by long-end weakness, but late-day strength kept the range small...
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Despite the RRR Cut, Copper prices continued to tumble - after an initial spike. Dollar strength weighed on gold and silver...
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Crude dropped on Saudi production fundamentals and spiked on idiot-algo-stop-hunts...
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Thanks to Chicago Fed's big miss today, US Macro data hits another fresh 6 year low...
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Charts: Bloomberg