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Big-Tech & Bitcoin Pumped As Banks, Bonds, & Bullion Dumped

Tyler Durden's Photo
by Tyler Durden
Monday, Jun 14, 2021 - 04:00 PM

Big-tech was bid as soon as the cash market opened and both Small Caps (Russell 2000) and Big-Caps (Dow Industrials) were dumped with the S&P under water most of the day until the late day panic-bid hit as the gamma-meltup struck...

That's a record close for the S&P and Nasdaq thanks to this utterly ridiculous meltup...

The Nasdaq's outperformance pushed it to its highest relative to The Dow since April...

Source: Bloomberg

Lordstown Motors was clubbed like a baby seal today as its CEO/CFO abandoned ship...

Retail traders were back buying today...

Source: Bloomberg

Elon Musk's ability to influence crypto is as evident as ever as he tweeted that he is not full of FUD and bitcoin ripped over 10% higher (helped by PTJ's positive perspective on crypto in an inflationary environment)...

Source: Bloomberg

JPM's Dimon spooked bank stocks even further - despite rising yields today...

Source: Bloomberg

Uranium/Nuclear-related stocks tumbled on the China Nuke emissions headlines...

Source: Bloomberg

VIX jumped back above 17 intraday...

S&P 500 Realized vol has tumbled to its lowest since Nov 2019...

Source: Bloomberg

Will The Fed's "most important meeting in years" this week get it moving?

Treasuries were sold today, erasing more of the gains from Thursday's CPI malarkey. The short-end yield rose 1-2bps, the long-end yields rose 4-5bps...

Source: Bloomberg

We note that 10Y yields hit 1.50% and the selloff stalled...

Source: Bloomberg

Amid all the chatter on inflation, breakevens went nowhere at all...

Source: Bloomberg

The Dollar trod water after spiking Friday up to fill the payrolls gap down...

Source: Bloomberg

Gold ended the day lower despite the dollar going nowhere...

Oil prices rollercoasted on the day but ended unchanged with WTI pushing up near $71.80 at its highs...

Finally, if you're wondering why people are buying USTs again... here's one reason... 5Y greek debt is now trading at a negative yield (yes, really)... so which would you rather own 5Y UST at 75bps or 5Y GGB at -0.4bps!?

Source: Bloomberg

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