Jobs Bounce Sends Stocks Soaring To Record High As Bond Yields Hit Record Lows

Well punk, "do you feel wealthy?"

 

First things first, there is this... (2130.82 record close, 2134.72 record intra high)

  • *S&P 500 RALLIES 1.6% TO 2,130.83, RISING ABOVE RECORD CLOSE

 

And then there is this... for 2016...

 

And since Brexit...

 

And today...

 

While on the topic - cash indices reached pre-Brexit levels...

 

Stocks went sideways after Europe closed...

 

And S&P Futures managed to run the stops above the Brexit peak...

 

But financials remain below pre-Brexit levels...

 

Despite the best efforts to mash VIX, S&P cash couldn't hold above the record close...

 

Since June's dismal payrolls print, Gold is the major outperformer...

 

But today's "goldilocks" data meant buy everything...

 

Trannies rose most in 4 months today - having "death-crossed" on Wednesday...

 

VIX has dropped over 48% in the last two weeks... the biggest collapse in fear ever....

 

And stocks and oil decoupled...

 

Only short-dated yields rose on the day and week as the long-end continued to plunge..

 

2s30s has flattened for 6 straight days, crushing the yield curve by 28bps in the last 2 weeks - the biggest crash since the US downgrade in 2011

 

So curve is collapsing... BUY BANKS??!!

 

30Y Yields closed on the lows today... at an all-time record low...

 

Stocks-to-Bonds yield spread near 8 year highs...

 

On the day, the USD Index ended unchanged, despite some significant swings around the payrolls print...

 

Commodities were mixed with PMs gaining but crude and copper getting crushed...

  • Copper's worst week in 6weeks
  • Crude's worst week in 6 months

  • Gold up for the 6th straight week...longest streak since Aug 2011
  • Silver up for the 6th straight week...longest streak since April 2011

So - to summarize - Buy Stocks, Buy Bonds, Buy Gold, Fade the Dollar, Sell VIX... sounds an aweful lot like front-running QE4 trades.

Charts: Bloomberg