Bonds Bid, Stocks Skid As Crude Chaos Continues On Lowest Volume Day Of 2016

Stocks DID NOT GO UP!!!

 

Despite the best efforts of the algos, oil's gains failed to spark panic-buying in stocks...

 

But the opening short squeeze in stocks did manage to get the S&P to record intraday highs before fading...

 

With S&P suffering its lowest volume since 2015 Thanksgiving...

 

Trannies started the day exuberantly on the heels of Oil's short-squeeze (and managed a small squeeze into the green near the close), but everything else ended lower on the day...

 

Energy stocks bounced at the open but faded all day; Financials were unch...

 

Post-payrolls, crude is now the big winner...

 

The USD Index rallied into the US open then then faded back to end practically unchanged... Yen weakness offset AUD strength...

 

Treasury yields followed a similar path, selling off into the US open then rallying back leaving 30Y yields lower on the day...

 

Crude's exuberant squeeze sent WTI back above $43 - back to DOE data highs 2 weeks ago...

 

But we note that the ETF-driven squeeze is over as longs/shorts shift back into above-average levels...

 

Also notably Oil VIX is back aits upper end of the range to Equity VIX...

 

Charts: Bloomberg

Bonus Chart: "Probably Nothing"

Bonus Bonus Chart: "Probably Nothing"-er...