Volumeless VIXtermination Fuels Stock-Buying Frenzy To Record Highs

There can be only one clip for today...

Because it's all about the fundamentals... and funnily enough the day when consensus GDP hopes collapsed also..

 

And volume doesn't matter...

 

Futures give us a glimpse at the dip-buying euphoria that began early on...

 

But cash indices just would not stop... Small Caps ripped as AAPL pumped Nasdaq higher

 

With shorts squeezed even more... (2nd biggest rise in "most shorted" stocks in 4 months)

 

As VIX collapsed (this is front-month futures smashed below 15)...

 

Crucially SPY took out its December fat finger spike highs... freeing any long lost longs remaining...

 

 

But credit was nmot happy with rising rates - so how are you CFO muppets gonna fund yr cheap buybacks noiw?

 

Treasuries were sold aggressively... roundtripping Friday's gains...

 

Even as Bunds were "managed"... the smallest range since Gross and Gundlach spoke..

 

The dollar soared over 1% on EUR and CAD weakness... This is the best day for the Dollar in 2 months... worst day for EUR in 2 months (notice this is a complete roundtrip of Friday's losses with Swissy well offered

 

The Loonie had its worst day in 4 months against the USD today...

 

Despite the USD strength, Silver and gold gained on the day, copper lost ground but crude was a financialized joke...

 

Trade those "fundamentals"...

 

So - to summarize - US stocks soared relentlessly on no volume to record highs as traders monkey-hammered VIX futures lower... on a day when Bunds were well managed but TSYs traded out of control, FX markets were carnaging and commodities whipped up and down like a whore's drawers...

Charts: Bloomberg