Tax Turmoil & China Contagion Slam US Stocks, Treasury Yields Tumble

Is it the bears turn now?

 

Chinese bonds and stocks were ugly overnight as the calm of the congress came to an end...

 

Small Caps were slammed today - worst day since August. Nasdaq managed to scramble back to green in the last few mins, but failed to hold it...

 

Small Caps (and the rest of the market) are catching down to their decoupled volatility markets...

 

As hope for meaningful tax-reform disappeared ("gradual" was the key word that disappointed markets...

 

Total chaos reigned in telecoms with rumors about Softbank sending Sprint/T-Mobile tumbling then rebounding...

 

Financials extended their losses from Friday and continued to catch down to the flattening yield curve...

 

Treasury yields extended Friday's declines - this is now the biggest 2-day drop in 10Y yields since June...

 

The long-bond was rallying all day but yields extended their drop when Tresury Sec Mnuchin commented that ultra-long issuance lacked demand...

 

The Dollar Index extended Friday's losses...

 

Dollar weakness prompted gold strength...

 

WTI clung to gain today (as RBOB leaked lower) amid more jawboning from OPEC/Saudis...

 

Bitcoin hit a new record high at $6300...

 

And finally, the most extreme positioning ever...

"probably nothing"

 

Comments

bobsmith5 Solosides Mon, 10/30/2017 - 16:51 Permalink

They aren't joobux or Jew Dollars. The Jews as a race or religion had nothing to do with it. This fake fiat phoney paper was created by the Satanist Rothschild's who claim to be Jews but are the farthest thing from it anymore than the Queen is Christian, or the Pope is Catholic. All these people at the top are frauds and all are pure Satanist. Get your goddamned facts straight. Stop being a racist and accusing a whole ethnic racial/religious group for what one evil rotten Satanist family has done in the name of Judaism. Just because the Pope is a pedophile does not make all Catholics child molesters.

In reply to by Solosides

Solosides bobsmith5 Mon, 10/30/2017 - 17:11 Permalink

"Just because the Pope is a pedophile does not make all Catholics child molesters" They sure as hell are complicit when the church has been caught in scandal after scandal for decades on end. I personally know someone who was raped by multiple preists. Mainly because the parents were too stupid and ignorant to notice anything was going on.

In reply to by bobsmith5

D.r. Funk Mon, 10/30/2017 - 16:06 Permalink

==SUB 10 VIX erased in one trading sessionSUB 11 VIX STREAK not as readily available, and not as long==1% 3% DRAWDOWN LAPSE closer to ending, they know it==ADDITIONAL FORGED LEG closer to ending, they know it==RELENTLESS SPATE OF ' CONSECUTIVE ' ATH-CLOSES can't go 'forever'Shiller pe 31.40 (2nd place in history) 4.3% over 192986% above mean 94% above median

Squid Viscous Mon, 10/30/2017 - 16:53 Permalink

here comes santa claus, here comes santa claus right down santa claus lane,\\coming to a desk near you soon!short at your peril, until mid januaryand even then only if you have the sack to fight ole yellenand whatever banker whore Drumpf nominates

buzzsaw99 Mon, 10/30/2017 - 17:02 Permalink

everything is in the schnauzer pattern.  usd, gold, bitcoin, everything.  how can everything be in the schnauzer pattern at the same time?  this is totally, ridiculously, bullish for everything!rhinoceros? imposseros!  [/cowardly lion]