Fed Fails To Deliver Dow 20k But Bitcoin Hits Record High

"20,000 will be mine... oh yes, she will be mine..."

 

The post-Fed Minutes reactions were mixed initially

 

But perhaps the biggest news of the day was Bitcoin surged to record highs today... coming close to parity with gold...

 

NOTE - As stocks got hit in the last few seconds so Bitcoin also skidded

 

Another day, another cash open pump-and-dump in futures...

 

As "Most Shorted" stocks extended yesterday's afternoon rip...

 

Sending Small Caps ripping...

 

VIX was smashed as Fed Minutes hit and then leaked lower as every effort was made to keep The Dow green and pushing for 20k... (NOTE VIX went a littel crazy at the very last minute and stocks gapped down)

 

Notably the SVXY Puts remain massively positioned relative to calls (SVXY Puts should be considered similar to VIX Calls, or implicitly leveraged market Puts/hedges)

 

Bonds rallied, dropped, and then pushed back higher (in price) post-Fed...

 

30Y yields remain lower so far in 2017...

 

The USD Index slipped lower overnight but after a brief dip post-Fed, pushed higher - but ended the day lower unable to extend on yesterday's 14-year highs...

 

EURUSD tagged 1.05 post-fed but faded as all the majors gained against the USD...

 

But the biggest news in FX markets was the explosion higher in Offshore Yuan...following capital control crackdown concerns - the biggest rise since jan 2016

 

Some context for this move...

 

Crude bounced back modestly from its big dump yesterday (ahead of API inventories report later).

 

NatGas saw no such bounce following yesterday's bloodbath...

 

But remains red on the week as silver leads in the new year...

Comments

No comments yet! Be the first to add yours.