"Blood On The Streets" - Bonds Battered, Stocks Slammed As Greece Suddenly "Matters"

How many Greeks will awake to this on Monday morning....

 

Before we start on the details, here is a quick summary of the turmoiling this week...

  • Chinese stocks worst 2 week drop ever (CHINEXT -25%, Shenzhen -20%, Shanghai -19%, IPO -18.5%)

 

  • Greek Stocks best week since post-Lehman dead-cat bounce (fell 37% after that)

 

  • Trannies down 6 of last 7 weeks to 8-month lows

As the divergence between Industrials and Transports is getting insane...

  • Nasdaq worst week in last 8 weeks (after record highs)
  • S&P closed below 50DMA and tested 100DMA intraday

  • Biotechs worst week since May

  • USD Index best week in last 5 weeks
  • Copper best week in last 8 weeks
  • Gold worst week since March
  • 30Y TSY Futures lowest weekly close since July 2014
  • 10Y TSY Futures lowest close in 2015
  • 7Y, 10Y, 30Y TSY Yield highest since Oct 2014
  • 5Y Yield highest weekly close since Jan 2014

So suddenly - given no change in monetary policy machinations this week and no data to really spook or spectaculize the markets - everything was driven by Greek fears...

*  *  *

Remember Monday when "Greece was Rescued"... yeah...

 

Futures show the volatility even more as pre-US Open headline swings drove us all week...

 

Today was The Dow rescued by Nike's channel stuffing (NKE accounted for over half the Dow's gains on the day) as Nasdaq bit it on Micron's weakness...

 

June remains red for most but Small Caps love it... (all the rebalance bullshit)

 

Here's the last hour of the day in IWM (The Russell ETF)...

 

VIX had a week... from an 11 handle on Tuesday to almost 15 today...

 

NFLX knackered...

 

Micron Massacred...

 

Total and utter carnage in bond land today and this week...

 

The USDollar was well bid all week but the biggest moves were EUR weakness Monday and Friday...

 

Despite USD strength, copper managed gains on the week. Gold and Silver were ugly and Crude algos tried to rally it back but faded...

 

Just look at Silver today!!!!!

 

Charts: Bloomberg

Bonus Chart: Greece? or "Good" News?

Bonus Bonus Clip: Yeah, it's that bad...