As copper, crude, and credit crash, market internals collapse, and global economic data swirls the great toilet of Keynesian pump-priming... stock investors want to hear just one thing from the world's central bankers...
Trading stocks today was as easy as '123'...
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Overnight excitement after crappy Japan Tankan survey data (recession looms) and China Industrial Production means 'moar stimulus' was sold hard at the US Open, bounce on Europe's close...
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Depite best efforts, everything ended the day red with small caps the laggards (now closing back below the 100DMA)
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The Dow is clinging to unchanged post-FOMC as Small Caps and Trannies remain positive...
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Macy's outlook cemented opinion on the weakness of the consumer and retail stocks extended losses...
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AAPL fell for the 5th of the last 6 days - closing below the 100DMA for 2nd day in a row...
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Big volume spikes in VXX at 1540 today...
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Treasury cash market was closed but futures were open...30Y and 5Y ended flat but 10Y implied a 1.5bps yield rise (a little odd given the weakness in stocks)...
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Corporate bond markets were also closed for Veterans Day, but that never stopped the selling from continuing...HYG down 6 days in a row...
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The USDollar followed the same pattern - higher in Asia/Europe, lower in US - as Cable surged after a decent jobs print prompted expectations for a rate hike...
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And the Dollar difted lower against Asian FX...
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Commodities all slipped lower on the day with silver and crude the worst hit...(seeimgly glued together)
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Silver is now down 8 days in a row... to its lowest since August
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Finally, crude carnaged to the lowest levels since the end of August...
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And Oil Volatility and the Oil ETF have recoupled from that August divergence...
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Charts: Bloomberg
Bonus Chart: This won't last...
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