"False" Economy Wake-Up Call Sparks Safe-Haven Surge In Bonds, Silver... & FANG Stocks

The worst 4 days in US Macro data in 5 months sent investors scrambling into the safety of bonds, precious metals, and FANG stocks??

 

Trump's "false economy" was on show today as a 5 standard deviation miss in ISM Services that smashes the US Macro data to over 2 month lows...

 

Crushing rate-hike odds...

 

Small Caps and Trannies disappointed but weak US economic data sent investors rushing into the safe haven of FANG stocks...all-time highs for Facebook and Amazon

 

Sending Nasdaq soaring...

 

VIX was jammed back towards an 11 handle, driving the cash S&P up to Friday's highs...

 

The USD Index tumbled on the day - led by Yen strength - after the dismal economic data...This was the biggest drop in the USD Index in 3 months

 

Treasuries were heavily bid today erasing post-payrolls losses (which appear driven more by rate-locks as today's massive issuance suggests)...

 

The weaker USD helped PMs today, copper flatlined but crude roundtripped on "freeze-dud" chatter and algos panic-buying...

 

Silver and gold are up 5 days in a row surging at the fastest pace in over 2 months...

 

Gold is leading the major asset classes post-payrolls...

 

Finally, in case anyone was confused at the market's movements, this seemed to sum it up perfectly...

What a joke! (see clip above)

Charts: Bloomberg

Bonus Chart: False Economy or False Market?