Bitcoin & Bullion Bid As Stocks & Bonds Skid

Overheard as stocks soared last year...

Because fun-durr-mentals...

Source: Bloomberg

China rallied overnight (led by small cap tech again)...

Source: Bloomberg

European markets were more mixed today (Spain lower)

Source: Bloomberg

In the US, Dow Transports outperformed with Nasdaq clinging to unch as Dow, Small Caps, and S&P slipped lower (and in a mirror of yesterday's close, stocks were weaker into the bell)...

 

AAPL has been stuck around $300 for the last few days as the AAPL vol decoupling may have gone too far...

Source: Bloomberg

Tesla was turbocharged again - tagging $470 record highs...

Source: Bloomberg

Pushing the TSLA market cap ever closer to VW's...

Source: Bloomberg

Equity and credit protection has started to recouple a little...

Source: Bloomberg

Treasury yields were marginally higher on the day (long-end underperformed: 2Y unch, 30Y +2bps)...

Source: Bloomberg

30Y Yields extended their bounce off support...

Source: Bloomberg

The Dollar surged intraday, tagged Friday's highs and faded back lower (up on the day though)...

Source: Bloomberg

Cryptos extended their post-Soleimani gains...

Source: Bloomberg

With Bitcoin spiking above $8100...

Source: Bloomberg

Silver outperformed today as crude slipped lower...

Source: Bloomberg

Gold was up on the day

But silver outperformed...

Almost erasing all of Gold's relative outperformance YTD...

Source: Bloomberg

As risk premia was wrung out of Oil somewhat today...

 

Finally, as US-Iran tensions escalate, it is cyber-security that is getting a war premium as oil fades...

Source: Bloomberg

And The Baltic Dry (global freight) index is utterly collapsing...

Source: Bloomberg