Equity Traders 'Buy The F**king Comey Dip' As Treasury 'VIX' Tumbles

Even a so-called "constitutional crisis" can't derail this market...

 

An extremely mixed day in stocks today - Small Caps soared, Dow dropped, Trannies tumbled, and Nasdaq and S&P clung green...

 

Dow suffered from Boeing and Apple...

 

The Dow remained below 21k... and S&P below 2400 - S&P 500 closes for the last 10 days (rounded to the big figure)... 2388, 2387, 2389, 2384, 2388, 2391, 2388, 2390, 2399, 2399, 2397, and 2399 today - and VIX below 10...

*VIX IS 'INSANELY LOW'; SHOULD BUY IT IF COULD: GUNDLACH TO RTRS

 

 

This is another record for VIX - the 13th day in a row closing below 11...

 

A dismal 10Y Treasury auction (almost a 2bp tail) sparked notable weakness after 1300ET...

 

 

Despite the crappy auction, The MOVE Index - or Treasury "VIX"  - plunged to near its lowest since the Taper-Tantrum lows...

 

But there's an odd 'vol' out...

 

Notably, European macro data surprises are soaring relative to the collapse in US macro data... which implies DAX will continue to outperform S&P...

 

*  *  *

Another day, another Treasury selling panic during the US day session...

 

Weak 10Y auction sent yields higher with 30Y once again closing above 3.00%...

 

The Dollar Index fell early on after comments from Wilbur Ross and on Comey...

 

JPY and EUR are the weakest on the week...

 

Gold and Silver clung top gains from an overnight spike on Comey headlines...

 

Bitcoin tumbled late yesterday but that was bid back up to record highs oince again (at $1798)...

 

WTI and RBOB popped after big inventory draws...

 

Humpday Humor...

 

Finally, we did notice one thing - probably nothing for now - but volume sare shifting to out months in ED futures (as prices rise) suggesting - perhaps - some loss of faith in the June rate hike (but odds remain above 90%)