Stocks Surge On Biggest Short Squeeze Since Election As Dollar Dumps To Worst Year Since 2009

Stocks are at record highs (so is debt) so get out and consume America...

 

Ugly week for China...

 

German stocks just could not decide what to do this week after Merkel's mishaps...

 

But solid EU PMIs seemed to spur manic Euro buying...

 

Unsurprisingly on the most seasonally-bullish week of the year, US stocks were up...Small Caps outperformed (Dow/S&P lagged)

 

S&P closed above 2600 for the first as VIX flash crashed into the early close...

 

Close up shows the instant drop to 8.56 and right back up...

 

On the heels of the biggest short-squeeze since the election...

(shorts squeezed 6 days in a row)...

 

As the machines shrugged off FX carry weakness...

 

Treasury yields were mixed on the week with 2Y up 2bps and 30Y down 2bps...

 

With the yield curve continuing to collapse...

 

The Bloomberg Dollar Index fell for the 3rd straight week...

 

Despite 3 Fed rate hikes, the Bloomberg Dollar Index is having its worst year since 2009...

 

Despite dollar weakness, precious metals were lower on the week as copper and crude jumped...

 

Bitcoin made new record highs this week, but generally trade sideways (as Ether surged)...