Tech Stocks Jump But Banks, Bond Yields, & Black Gold Dump

Tech stocks bounced today (perhaps on AMT chatter) sparking a chorus of confirmation-bias-based commentary that the bull is back... but we suspect that parrot is still dead...

 

Ugly night in Asian equities but it appears The National Team stepped in during the afternoon to save the world...

 

"It ain't cheap..."

 

Small Caps were today's biggest loser as Tech-heavy NASDAQ outperformed...

 

For the second day in a row "Most Shorted" stocks were lower...

 

For the second day in a row, VIX was down with stocks...

 

For the second day in a row, high tax stocks underperformed low tax stocks...

 

For the second day in a row, tech outperformed financials...

 

FANG stocks saw BTFDers at the open...

 

Goldman is now lower on the week post-Tax vote...

after Citi cut its trading revenue outlook... and said that the tax reform would cost them $20 billion!!

High yield bonds continue to slide...

 

Treasury yields declined across the board today as the long-end outperformed once again... (all but 2Y yields are now lower on the week)...

 

And so the yield curve just keeps tumbling...2s30s hits 88bps handle today and 5s30s 57bps handle (both down 1-2bps

 

The Dollar Index rallied for the 3rd day in a row...

 

Bitcoin surged from $12,000 to over $13,000 in the last 24 hours...

 

Commodities are suffering across the board with crude (on target for worst week in 7 months) and copper (on target for worst week in 19 months) worst...

 

WTI/RBOB really giving up their OPEC-hope gains...

 

Finally, some might say "we're toppy"...

Comments

FreeShitter Wed, 12/06/2017 - 16:06 Permalink

They just keep rotating money out of diff sectors is so obvious lol. When those yield curves collapse, its going to be heard around the galaxy, bitchez.

LawsofPhysics Wed, 12/06/2017 - 16:07 Permalink

Seems like it was just yesterday that I put my DOW 13K hat on...free fucking money bitchez......the dollar is "strengthening" again, buy mortimer buy, that can't last long!!!"Full Faith and Credit" 

D.r. Funk Wed, 12/06/2017 - 16:29 Permalink

Sub 11 vix, again, teeters. On evisceration. Because, sub 11 vix is not normal. (As much as the notion wants to be pushed that it's just "a low volatility environment", it's not normal) Once it exits it's existence on this "round", it's likely over for quite a long time. [I'm pushing pushing pushing the death throes. and salivating] And of course the notion that it's 100% concocted because they were suppressing vix 3+ years ago and the 9 handle 10 handle that started around the presidential transition period is (extremely) hard to argue is not fake. (ie not from the same forcing) ...but... ...whatever...==SUB 11 VIX will, die, forever after this round==3% DRAWDOWN LAPSE not gonna hold forever==ADDITIONAL LEG closer to having its run, ended==PROGRAMMED ATH PSYOP ' cant go forever '

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In reply to by U4 eee aaa

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