But "hawkish" was "bullish"?
[7]
Roughly translated....
A Week of turmoiling...
- S&P -3.2% - worst week in 3 months
- Retail -8.2% - worst week in 4 years
- VXX +17.9% - biggest week in over 2 months
- VRX -8% - down 7 of last 8 weeks
- AAPL -6.4% - worst week in 2 months
- Financials -3.2% - worst week in 2 months.
- Copper -3.5% - worst week in 2 months (down 5 in a row)
- WTI Crude -8.7% - worst week since Dec 2014
- HYG -1.7% - worst week in last 7 weeks
- HY CDX +35bps - worst (non-roll) week since Decmber 2014
- Long Bond +0.8% - best week in last 4
- 5Y Yield dropped 5bps - most in over a month today
Futures markets show a clear pattern throughout the week of US session weakness and overnight recovery...
[8]
Nasdaq closed very ugly on the day...
[9]
Which left Small Caps worst but everything red for the week...
[10]
Retail pukefest...
[11]
FANG FUBAR since FedSpeak began...
[12]
TWTR back below its IPO price...
[13]
And Camera-on-a-stick below its IPO price...
[14]
Eveything is red since FOMC...
[15]
Financials and Energy wewre ugly this week....
[16]
As financial stocks catch down to credit once again...
[17]
Stocks year-to-date...
[18]
Once again "123" was the number that mattered... As soon as Europe closed, USDJPY ramped to 123.00 dragging S&P Futures with it... and then rolled over...
[19]
Trannies caught down to Crude once again...
[20]
Stocks are catching down to credit...
[21]
Treasury yields closed down notably on the week after consistent early selling and late buying... (with today's rally the biggest of the week)
[22]
The dollar ended the week modestly lower against the majors...
[23]
Commodities were a bloodbath this week...notice the similar pattern in the USD and crude...
Gold closed lower for the 4th week in a row - lowest weekly close since Jan 2010...
[24]
Crude carnage...
[25]
Charts: Bloomberg