Dow Hits 20k On Best Day In 7 Weeks As Investors Dump Dollars, Bonds, & Protection

 

In case you missed it, The Dow hit 20,000 today...

As we noted yesterday, the last month has seen the lowest trading range in US history...

 

And VIX dropped intraday to its 2nd lowest level in 10 years...

As Salil Mehta details, this level of VIX was last seen in 2014, 937 calendar days ago; and before that in 2007, 3624 days ago! This is the bottom 0.74% of all of VIX history.

Notably VIX died for 45 minutes this morning as The Dow surged to record highs... VIX 10.51 was the lows of the day...

 

Boeing, Goldman Sachs, and IBM were responsible for half The Dow's gains today...

 

CAT did well but look at this fucking chart!!!

 

Today's open saw yet another massive short squeeze...

 

Since the pre-Trump election lows, Small Caps are the biggest winners (up almost 19%) with S&P and Nasdaq up over 10% (both at record highs)...

 

Year-to-date, gold remains the winner but bonds went red today...

 

The S&P 500 neared Goldman's year-end target of 2300 (though we note they said it will tage 2400 before falling in H2)...

 

Quite a significant decoupling from the dollar...

 

Ironically, as Trump unleashed his border security executive orders, the peso soared against the dollar...

 

AUD weakened modestly today but the majors mostly rallied against the greenback...

 

Broadly speaking, the Bloomberg Dollar Index was hammered lower today, testing ECB lows...

 

The better know Dollar Index closed back below 100...

 

Another ugly day for bonds, took the entire complex into the red for 2017...

 

The five-year break-even rate – which measures the difference in nominal and inflation-adjusted Treasuries of the same duration – climbed slightly above 2 per cent on Wednesday, the highest reading since August 2014.

 

USD weakness didn't help crude, which shrugged off a machine ramp after crappy data to end back below $53...

 

Gold ended back below $1200...

 

Bonus Chart: Trumpian hope is high...