Crude Carnage Slams Stocks To Longest Losing Streak In 36 Years

What else was there for today...

 

After 8 losing days in a row, the battle was on today to avoid 9 in a row.. AND THEY FAILED - this 9-day losing streak  is something that has not happened since Dec 1980

 

VIX was up 8 days in a row before today (touching 22.99) - A mini flash crash struck as payrolls printed but all efforts were in place to try and get S&P green. Today's positive VIX close is the 9th in a row - an all time record streak.

 

Everyone and their pet rabbit is hedging...

VIX term structure is the most inverted since Brexit (and the Aug 2015 crash)

 

Implied Correlation spikes (massive macro overlays being put on in equities)

 

And short-term Peso vol has exploded to Lehman levels...

 

Following Q3's biggest short-squeeze in 7 years, the first month of Q4 has seen "Most Shorted" stocks collapse, erasing all Q3's gains...

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On the day, Nasdaq was the laggard...

 

Stocks are down on the week... (apart from Trannies), led by Nasdaq on FANG Fallout... Nasdaq's worst week in 9 months

 

Camera On A Stick crashed, smashed, and then crashed again...

 

All major US equity indices are down year-over-year, and are rapidly giving up year-to-date gains...

 

Treasury yields slid all week (but the long-end underperformed the belly post-Fed, post-payrolls)...

 

The USDollar Index tumbled 1.3% on the week - the worst week in over 3 months...

 

Cable and Swissy were best among the majors...

 

As cable soared the most since Oct 2009...

 

But all eyes were on the peso as it dumped and pumped...

 

The Dollar's ugly week provided support for PMs (and Copper) as crude plunged...

 

Copper has now risen 10 days straight - the longest streak in 2 years...

 

WTI Crude managed to close just above $44.00 but ended the week down almost 10% - its worst week since January...