For now, the biggest loser is Treasury bonds - which are up 2-4bps in yields post-China. As for everything else - buy it with both hands and feet. US equities are extending tech gains (Nasdaq up 3% post-cash close), Gold has surged back above its 200DMA, Commodities are all loving it and the USD is bid...
The last two days have been quite impresive...
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US Equities are exuberant...
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As VXX tumbles over 3% in the pre-market (heralding 13 handle VIX today)
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But bonds are suffering as gold leads the reaction
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With gold breaking back above its 200-day moving-average...
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Europe is loving it too... DAX +300 today, +600 in 2 days
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Credit markets are higher, but remain notably decoupled from equity exuberance...
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Charts: Bloomberg
