The Streak Is Over - Stocks Suffer Down Week 'Despite' Bombings, Hawks, & Dismal Data

As we tweeted at the open, between plunging durable goods, the slide in Services PMI and the tumble in Q1 GDP expectations, it's surprising it took this long to push the Dow green (BUT the S&P smash failed)... Happy Easter Christians...

 

Before we start, you are here...

 

This is what the day looked like across the asset classes... (dismal data sparked panic buying once the stock 'market' opened)...

 

The S&P and Dow desperately clung to unchanged as Small Caps ripped...

 

VIX was smashed back to a 14 handle to force the S&P green...BUT FAILED!

 

But, despite the surge effort, cash equity indices have a down week...

 

Valeant just can't keep a bounce, tumbling 7% on Sequoia shenanigans...

 

Treasury yields V-shaped along with everything else, but 30Y yields closed lower on the week...

 

Cable rallied today but remains down 2.2% on the week. The Dollar managed a small gain today for a 5-day winning streak - the longest streak since April 2015

 

Commodities were mixed today but mostly ended flat, though all down for the week...

 

Gold was double-monkey-hammered overnight before bouncing back....

 

Charts: Bloomberg

Bonus Chart: We thought stocks are meant to LEAD fundamentals... NOT LAG...