Another day in ignoropia...
And a second clip - because we can - that seemed a perfect analog for mainstream media in the middle of today...
American Molly Huddle celebrates too early & loses bronze medal in world final of 10,000 meters. Biggest #EpicFail [8] ???? pic.twitter.com/AC9iFEuUhj [9]
— Asjad Nazir (@asjadnazir) August 24, 2015 [10]
It started in China...
[11]
Continued in Europe...
[12]
And then catastrophied in The US...
[13]
The crash in stocks at the open appeared as much driven by a collapse in USDJPY - JPY carry unwinds - which ripped back and lifted stocks...
[14]
Cash indices ripped back off the lows and Nasdaq 'touched' unchanged on the back of AAPL... before it all fell apart again...
[15]
As the end of the day loomed, chatter of QE4 (hope) and PBOC RRR Cut (hope) managed to ramp stocks... dragging S&P minis back to VWAP... (on heavy volume)
[16]
Some context for the drop today...
[17]
Everything is red post-QE3...
[18]
Energy stocks crashed, catching down to energy credit markets...which hit another record wide today...
[19]
"Inconceivable" - US financial stocks collapse to credit...
[20]
VIX explodeder...
[21]
Catching up to credit...
[22]
Treasury yields plunged as stocks collapsed but as the PPT stepped in and rescued AAPL, so bonds got hit (with the long bond yield soaring to +4bps from -11bps at one point)... then as the weakness re-accelerated, yields plunged... 10Y traded with a 1 handle once again... and 30Y went out with a higher yield
[23]
The USD drooped most in 5 months today back to 7 month lows...
[24]
Despite USD weakness, commodities were all lower as we suspect margin calls necessitated widespread selling in everything...
[25]
Crude was utterly monkey-hammered back to a $37 handle...
[26]
One final thing... China opens in a few hours!!
Charts: Bloomberg
Bonus Chart: Blood On The Streets Of The World...
[27]