"They're Selling Everything" - Bonds, Stocks, Oil, Gold, & Dollar All Tumble

"Probably nothing..."

 

ECB Minutes spoiled the bond party... when does it become a full blown tantrum...

Bund puking rippled... via risk-parity deleveraging - through European stocks, European bonds (not helped by ugly auctions in France, Spain), US Treasuries and into US stocks... And then dismal 'hard' data (and positively surprising 'soft' data) didn't help as oil's bounce on inventories provided some brief hope... but even that didn't last once the market saw the craziness in Hamburg.

Shit's getting real in Risk-Parity Unwind land...

 

Not a pretty day for stocks... Small Caps worst day in 2 months

 

Or bonds...

 

FANG Stocks tested the lows once again, bounced, then faded into the close...


Tesla bulls are having a bad week...the 'carmaker' is poised for its worst week since February 2016. A string of bad news has sent the electric automaker’s shares skidding for a third consecutive day, leaving the 2nd biggest US automaker in a bear market...\

 

Despite soaring yields and steepening curves, bank stocks notably rolled over this afternoon...

 

Nasdaq 'risk' started to spread to VIX...

 

Treasury yields continued to rise... but the long-end is underperforming..

 

With 30Y breaking above two key technicals...

 

And the 2s30s curve has steepened to its post-Fed rate-hike highs...

 

The Dollar also fell once again...

 

Driven by strength in EUR (which sent Bund yields spiking) on ECB Minutes...

 

Despite bullish data from API and DOE, WTI/RBOB prices struggled to hold gains...

 

Notably, WTI reversed right at its 50DMA...

 

Gold rallied early on to test its 200DMA at $1231 but rejected that to end lower...

Comments

Overleveraged_… Thu, 07/06/2017 - 16:02 Permalink

Oof, well I gotta say today was not a fun day. I have lost some money in my 3x Long S&P 500 Leveraged position. However, on the overall scale I still fully believe that we will see 3000 by year end and 4500 by Q1 2019. At the end of the day, the President's Working Group on Financial Markets will save us in the event of any crash situation. Plus, Donald Trump (King of the Stock Market) has re-iterated his commitment to keeping us at all time highs. We are one news event away from a 40+ point gain in the S&P 500 and slaughtering all the new bears.Look at Japan over the past 35 years. They've been maintaining their stock market just fine. Also, if shit REALLY hits the fan we will simply turn the QE hose back on. This is nothing more than an experiment which Yellen will stop as soon as real danger hits. Do you REALLY think they'll allow a crash? I don't. We are more likely to see S&P 500 at 10,000 than we are at 1000. If the dollar must be destroyed to maintain consistent brand new all time highs in the Stock Market then so be it.No need to fear folks. Honestly, if you can't handle a down day here and there then you don't deserve the awesome gains coming very soon. This is an Excellent opportunity to buy the dip. Infact, with my paycheck coming tommorow afternoon that is precisely what I will be doing. We have come this far, there's no going back.

Chupacabra-322 Mr. Universe Thu, 07/06/2017 - 17:47 Permalink

Speaking of Securitization of "SOULS."

In the 1930s, during the turmoil of the "Great Depression", the concept of birth certificates, licenses for occupation and marriage, property registration, income taxation, and a whole host of regulations governing nearly every little aspect of our lives began to encroach on a distinctly unique American society. The pre-1930s American society was still more than vaguely a republic in its character. However, things changed after the depression of the 1930s, which lead to the bankruptcy of the government created of/by/for the people and endlessly perverted throughout the preceding century, and resulted in our being converted to collateral for the bankrupt United States corporate entity.

Ever since then, as you'll notice, the politicians have consistently referred to our system of government as a "democracy" which, according to our founding documents, is completely wrong. Thus their utterance of this mischaracterization is either a result of abject ignorance or evidence of willful fraud (forignorantia legis neminem excusat, ignorance of the law excuses no one)--or it's the truth.

Assuming they know full well what they are doing--and let's face it, they are not all geniuses, but they are all lawyers, and they go to expensive law schools to know this stuff--then they are telling you how it is.

In reply to by Mr. Universe

trgfunds Overleveraged_… Thu, 07/06/2017 - 16:33 Permalink

Glad to see you still commenting even though things aren't going perfect. More than I can say for most ZHers. Weird day today for sure, but I do agree they will just turn back on the printer if anything gets real. Not to mention the circuit breakers. What a joke. Prices aren't even allowed to decline. And SERIOUSLY do you think they're gonna let this thing get wrecked with everyone and their mother's pension and retirement attached to these "markets"? With the problems we have already? That is a great recipe for pitchforks at the Fed's front door. Never gonna happen. They will pump, misdirect, distract and entertain before anyone notices a hiccup you can count on that. You get downvoted because you tell the truth. I swear this site is worse than the MSM when it comes to truth supression sometimes. It's cognitive dissonance city up in here from the mindless trump tards to the gold bugs. Nobody can handle anything but a hugbox of MAGA bullshit. I've been on this site for 7+ years like you and I have seen it degrade from a group of highly intelligent traders into an echo chamber of hate and ignorance. I actually wouldn't be surprised if someone told me CNN bought Zerohedge a long time ago.

In reply to by Overleveraged_…

Endgame Napoleon trgfunds Thu, 07/06/2017 - 16:50 Permalink

Well, they need to start realizing that while dual, high earners concentrate the jobs with benefits, pensions and high pay in fewer households, doubling up on the building blocks of a middle-class lifestyle, most people work their whole lives with no retirement funds, barely making it through the month on what they are paid, with a segment of this population paid by government for sex and reproduction, getting layers of welfare and taxfare to augment their low wages, not the most hardworking segment in many cases.

The political solution is always throwing more tax-code welfare or regular welfare to some groups, while screwing others at the low pay level, mostly citizens with low womb productivity or no wombs. In some cases, those are not the least rowdy portions of the population: the ones kicked in the head by government policy each and every time. You kid yourselves if you think they do not know they are being kicked. They are just mostly stoical and peaceful.

In reply to by trgfunds

Jtrillian Overleveraged_… Thu, 07/06/2017 - 16:45 Permalink

Yes they probably will let it crash.  At least, long enough to turn the public against Trump and forcibly remove him from office.  You underestimate the power of the ruling class elite, their lack of empathy towards the masses, and the importance of how FEAR motivates the masses to do their will.  Once Trump is removed from office, Pence, the poster child for the ruling class elite, will be in power and you can then resume your overleveraged take of this charade that the banksters call the markets. Once Pence is in, your stimulus can be expected to resume at levels that will be in the multiples of previous QE. One thing we agree on... the market goes where ever the central banks take it.  If it tanks, don't blame Trump... but you can bet THEY will. Once you understand who runs the show and how the ruling class elite work, then this kind of stuff becomes predictable.  But first, you have to wake up to the fact that this world is run almost exclusively by a select group of people.  Like Carlin said, it's a big club and YOU AIN'T IN IT.  

In reply to by Overleveraged_…

Kaiser Sousa Thu, 07/06/2017 - 16:03 Permalink

i apologize to the Tylers but i wanted to reach out to my Gold & Silver brethren in light of the non-sense we r witnessing...haters do what u do, ignore, or just scroll by...this is for my people's...Having accumulated more physical Silver than i would have imagined possible, in 2017 I pivoted and began accumulating physical Gold that back in 2008 I doubted I would be financially capable of accumulating substantially given the Gold/Silver ratio and phony paper price disparity.This fortuitous strategic initiative coincided with the election of Ameridumbs’ current savior-in-chief who occupies the White House the MoneyChangers control, which or course according to the “experts”, would result in a collapse of the Fraud Markets. Yet, instead what we’ve witnessed are them ascending to new “all time record highs” day after fraudulent day contravening the never-ending flow of genuinely horrid macro-economic news/data abroad and domestically.   Of course, the continued accumulation of both Gold & Silver is rooted in an enlightening that occurred in 2008, which marks the beginning of what will be remembered as this bankrupt nations GREATEST DEPRESSION.  As, what is unfolding is the unraveling of the global debt based fiat ponzi scheme that is at the center of the collapsing global economy, particularly here in the United States of Ameridumb & most western EuroPeon nations.Sound Money loyalists have been forced to endure watching the Dow Jones Propaganda Index, S&Piss, NasCrap, and other select "markets” be re-inflated to new "all time historical highs” based SOLEY on trillions of new debt based fiat currency being injected into the financial system in order to prop up the MoneyChangers fiat ponzi scheme. No need goin into the details about the above fact as you've been repeatedly presented with incontrovertible and irrefutable info/data detailing the pervasive central bank rigging of ALL so called “markets”, ESPECIALLY the fraudulent paper Gold & Silver “markets” over the last 9 years by the usual suspects in Londone & New York.Knowledge: when through seeking truth i uncovered that what i had been led to believe my entire life was MONEY was in fact debt created by a small cabal of bankers out of nothingness and specifically created to steal from & and enslave me and mine, the need to free my collective from the bankers debt & death paradigm became absolutely imperative. It has always been about more than money, as individual & financial liberty to the highest degree possible can not be attained without removing oneself to the highest degree possible from their 5 plus century old paradigm of usury, debt, death and control.Understanding: "Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."- Sir Josiah Stamp, Director, Bank of England, 1940 -Once armed with the knowledge that DEBT is not MONEY and money can never be debt, that EVERY fiat currency is an instrument of debt, and more importantly a control and confiscation mechanism designed to expropriate what you receive in exchange for your only true resources, your time & energy, you can not unless you have resigned to being an obedient slave, slave onward. Additionally, understanding the age old war being waged by the international bankers against the 2 PRECIOUS MONETARY metals they know to be the only 2 forms of REAL MONEY and worthy adversaries to their worthless scripts, should serve to only strengthen the resolve of all men who cannot except being robbed & enslaved.So then, why despite 9 years of documented and confirmed manipulation, constant brow beating from Ameridumbs who still believe that Federal Reserve Notes are money, and now incessant badgering from burgeoning Crypto-Quacks who curiously maintain that their intrinsically worthless virtual wealth substitute is impervious to the international bankers influence & ultimate control, have i not abandoned my Silver/Gold Saving Plan or my convictions???Courage: Those of us who have done our homework know that Federal Reserve Notes have lost 98% of their purchasing power since the Moneychangers privately owned for profit Federal Reserve was finally clamped around the neck of this countries citizenry in 1914. In 1914 the international bankers agreed to a phony Gold valuation of roughly $20 and Silver of roughly 56 cents. It’s safe to say that back then an ounce of Gold & Silver provided you with a pretty decent meal at your local diner or cafe. I know this to be true because I searched for a dinner menu from that year but the best I could come up with was one from the swanky Biltmore Hotel in Los Angeles circa 1945…$1.75 bought you a porterhouse steak dinner with all the fixings in 1945 but the purchasing power of the dollar had fallen 81.8% since the Moneychangers conspiracy succeeded in granting them complete control of the nations currency in 1913. Meanwhile, the USD paper valuation of Gold stood at roughly $37.25 and for Silver roughly 52 cents. respectively. So, obviously after only 30 years of the Feds control over of our currency and concomitant destruction, 1 of the only 2 forms of real money had risen to the point where a whole lot more than just one fine meal could be afforded as a result of its increase in purchasing power, while the other at the very least proved to be a reliable store of value/wealth.Fast forward to 2008 - 2017. In 2008 when the global debt fiat ponzi scheme ruptured the average dollar price per. ounce I extinguished in exchange for physical Silver was $14.98. Over that same timeline the inflation calculator shows that Federal Reserve Notes lost another 13.7% of their purchasing power. Every year since I’ve dollar cost averaged purchasing Silver at every point except where it peaked around $50 in 2011, when the Fed and Exchange Stabilization Fund gave its blessing to J.P. Morgan to destroy the paper price, thereby extricating itself from the gigantic short position it assumed from Bear Sterns which failed because it wasn’t a platinum member of the international banking cartel.so, what’s my point?Conviction: I have always stated that Silver & Gold are not "investments” to me as investing is a dead & non existent practice killed off by the pervasive fraud, corruption, and complete choke hold the Fed, its member banks and owners have on these fraudulent markets representing only paper claims on wealth. Gold & Silver are money as 5,000 years of history clearly shows, and have outlasted EVERY banker fiat paper concoction undisputedly to date . Their time proven superiority to the MoneyChangers script is why nothing else is remotely considerable for me & my family’s savings, which the international banking cartel has always endeavored to confiscate & destroy.So, contrary to the exhortations of the buffoon battalions who attempt to ridicule myself and others with claims that "we have lost”, or are "losing" by virtue of Gold & Silver phony paper prices siting where they are today, be reminded of the following. In 2008 you could not purchase a $1 face value Silver Eagle with ONE $1 Federal Reserve Note, and you could not purchase a $50 face value Gold Eagle with ONE $50 Federal Reserve Note. If that ain't curious, it should be.In 2017 that reality has not changed despite the ongoing dog & pony show brought to you courtesy of the international banking cartel who wants you to ignore your "lying eyes” as you survey Ameirdumbs’ gutted & hollowed out economy, legions of penniless peasants with no savings at all, and worse debt slaves without savings in physical Silver and Gold outside the failing financial system. If you’ve accumulated Silver & Gold for all the right reasons instead of all the wrong reasons you have gained, while the only thing you’ve lost is what you should be trying to lose at an accelerating pace.FEDERAL RESERVE NOTESDEATH TO THE MONEYCHANGERS.

Chupacabra-322 Kaiser Sousa Thu, 07/06/2017 - 16:44 Permalink

"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves."
- Andrew Jackson

In reply to by Kaiser Sousa