'Bad Data' Sparks 'Buy All The Things'-Day, Despite Hawkish Powell
Bonds, big-tech, bitcoin, and bullion all rallied today as the dollar dived after disappointing jobs data and a no-less-hawkish Fed Chair Powell.
ADP and JOLTS both printed weaker than expected and the Beige Book signaled weakness for the consumer...
Source: Bloomberg
A new record high for spot gold prices...
Source: Bloomberg
As the dollar dived on a small rise in rate-cut expectations...
Source: Bloomberg
All the US Majors managed gains on the day but were well off the highs with The Dow lagging and Nasdaq and Small Caps leading...
Mag7 Stocks gave back their early day gains following a similar pattern to yesterday...
Source: Bloomberg
Bonds were mixed with the short-end lagging as the long-end saw yields 5-6bps lower on the day. On the week, 2Y remains the only segment higher in yield..
Source: Bloomberg
The 10Y yield hit a one-month low today...
Source: Bloomberg
Which has flattened the yield curve further...
Source: Bloomberg
After yesterday's insane day in crypto, Bitcoin recovered a lot of its crash-from-record-high losses, back above $67,000...
Source: Bloomberg
Which should not be total surprise given yesterday saw MASSIVE net inflows into BTC ETFs...
Source: Bloomberg
not only are they HODLers they are rabid BTDFers https://t.co/ETIyYajyoi
— zerohedge (@zerohedge) March 6, 2024
Ethereum did even better, taking out yesterday's high to trade above $3900...
Source: Bloomberg
Oil price ended higher but not before a good pump and dump intraday that lifted WTI above $80.50...
Source: Bloomberg
Finally, New York Community Bancorp was a total shitshow and deserves a section of its own. From $3.20 close to $1.70 lows... then Mnuchin and his hot wife stepped in at $2 and the stock ripped up to $4.40... only to sink back basically to unchanged...
Source: Bloomberg
What are the odds that a billion will solve their problem? Options traders dumped their puts on the news (and some calls were bought), but...
NYCB share price did not extend gains on the news or the cover? We're gonna need a bigger boat.
