Stocks Soar To Record Highs Thanks To Biggest Seasonal Jobs Adjustment In A Decade

Jobs beat yuuge, "proving" everying is awesome...

 

Thanks to the biggest positive TTM seasonal adjustment in over a decade...

 

But don't let that spoil the party... It's payrolls buying day...

 

Post-payrolls, Gold was the biggest loser followed by bonds as stocks surged happily...

 

Today's surge pushed all major indices into the green for the week...

 

NASDAQ RECORD HIGH CLOSE (Nasdaq July 2015 highs 5218.86)

 

FANG stocks surged over 9% in the last 6 days

 

Mega short-squeeze at the open lifted the indices but after that buying ended...

 

S&P breaks out to new record highs...

 

VIX plunged to its lowest levels since July 2014 (barely holding above a 10 handle)...

 

Bristol-Myers' crashed by the most in 16 years...

 

Banks were bid because rates rose BUT the curve actually flattened and rate-hike odds barely budged...

 

Treasury yields exploded higher today (with the curve steeper by 4-6bps on the week, despite a small flattening today)...

 

Just as we warned, today's big pain was in the 2Y which exploded 8bps higher (its biggest absolute rise since Dec 2015 (which marked the cycle high)

 

The USD Index spiked today on the payrolls print (up 4 of the 5 days this week) - this is the 6th weekly rise of the last 7 weeks...Cable was the weakest of the majors on the week

 

USD strength sent commodities lower overall with silver worst on the day. Crude scrambled back to unch on the week as NYMEX closed...

 

It's been another crazy week in oil markets...

 

Gold and Silver were clubbed like baby seals today...

 

Charts: Bloomberg

Bonus Chart: S&P 500 Fwd EPS hits 189.5x - 15 year highs... probably nothing...

Comments

No comments yet! Be the first to add yours.