Behind Friday's Market Massacre: A Huge Burst Of Hedge Funds Shorting, Setting Up Another Squeeze

What a week.

On a day when the hottest CPI print in 40 years shocked markets which were hoping for continued easing in the BLS's increasingly erroneous measure of CPI inflation, stocks initially tumbled... then soared, in a 5.55% intraday swing, the 5th biggest in history!