Fed Fails To Save Stocks From Worst Losing Streak In 5 Years

Stocks (4mo lows) and HY Bonds (3mo lows) down 7 days in a row... the longest losing streak since Nov 2011

 

"Fleshwound"...

 

Post-Fed, gold and bonds were sold and oil bid which dragged stocks up a smidge...

 

On the day, Trannies held on to green but all stocks ended with an ugly close with Small Caps notably weak again (highest beta to credit) - Dow closed below 18,000 and S&P below 2100...

Notice The Fed bounce failed...

 

VIX held above 19 and S&P ended below 2100...

 

As a reminder, stocks remain green for the year but are falling fast... (Small Caps down almost 10% from the year's highs)

 

Treasury yields ended the day marginally lower (long-end better than short-end)...

 

The USD Index fell for the 3rd day of the last 4 to one month lows...

 

Although it did rally after the Fed...

 

With Swissy and Yen strength dominant but all losing ground during the US day session to the USD

 

But it was Mexican Peso vol that exploded...

 

Silver remains the week's biggest gainer (and oil the loser)...

 

WTI Crude briefly traded with a $44 handle before bouncing on the The Fed...

 

Erasing all the Algiers OPEC "deal" hope gains...

 

Gold (back above $1300) and Silver spiked back to October plunge levels (remember that was the China Golden Week annual plunge)...