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Reddit-Rebels Rout Big-Shorts; Bonds, Bitcoin, & Bullion Bid

Tyler Durden's Photo
by Tyler Durden
Wednesday, Jun 02, 2021 - 04:00 PM

Reddit-Rebels to big shorts today...

Or put another way...

Source: Bloomberg

This was the biggest short-squeeze day since the peak of the chaos with GME in January...

Source: Bloomberg

And as shorts were squeezed, hedgies unwound some of their favorites for liquidity...

Source: Bloomberg

AMC was the kingmaker today, up over 100% at numerous times...

Which leaves AMC up a stunning 3000% YTD...

Source: Bloomberg

"You're Welcome!!"

And while GME managed gains, the AMC surge took it above $30 billion market cap and bigger than GME...

Source: Bloomberg

GTT also exploded today (up over 50%)...

AMC's trading volume today was by far the largest of any in the US - triple TSLA's which was in second place...

Source: Bloomberg

Oh, and if you cared, the broad indices were up and down like a whore's drawers (Small Caps puked at the cash open and Nasdaq spiked, in a reverse of yesterday's action). A late day panic-bid moved them all barely into the green...

VIX had another mini-flash-crash around the pre-open again...

Ok, so enough of that malarkey, here's what happened everywhere else in the markets...

The dollar pumped and dumped to end unchanged...

Source: Bloomberg

Bonds were bid...

Source: Bloomberg

Bitcoin bounced back up to $38k...

Source: Bloomberg

Ether tagged $2800 intraday...

Source: Bloomberg

And Bullion buying lifted futures above $1910...

Black Gold also extended its gains ahead of tonight's API inventory data, with WTI tagging $69...

Finally, the correlation between VIX (fear) and 10Y Treasury yields (no fear) is at its highest since late 1999...

Source: Bloomberg

And we all know what happened next, stonks were slammed and yields collapsed...

Source: Bloomberg

Taper tantrum triggered?

For now, no one is worried at all as the Put-Call ratio just hit its lowest since 2011...

Probably nothing.

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