Market Volatility Jumps To 7 Year High As Global Economic Data Slumps

"There could be some fluctuations in stock market values as a result of the China trade dispute..." - The White House

Cliff...

For the first time since July, the global macro data surprise index has turned negative...

 

It was quite a week with massive swings pushing realized volatility to its highest since 2011...

 

Futures show the equity market swings best as many out of cash session hours...

 

But the cash markets all ended red on the week...

 

As Gluskin-Sheff's David Rosenberg notes, barely over 3 months into the year and already no fewer than 22 sessions with intra-day moves in the Dow of 400+ points. We had 1 all of last year. The only other time in the past have we seen so many 400 point moves bunched into such a short period -- Oct 2008 to Jan 2009.

The Dow retraced 61.8% Fib of its Wednesday panic-bid... then rebounded back to 50%...

 

The S&P traded down to its 200DMA once again...

 

Trannies tumbled to their 200DMA - today was their worst day since Brexit (2016)

 

All major index vols jumped on the week after collapsing on Wednesday...

 

All major US equity indices went red for the year again...

 

Tech and Financials tumbled back into the red for the week today...

 

All the FANGMAN stocks ended red on the week...

 

TSLA stocks and bonds squeezed higher this week but stocks over-ran bonds...

 

Treasury yields ended the week marginally higher but tumbled today as bonds were bid when stocks tanked...

 

10Y yields dropped back below 2.80% once again...

 

Despite weakness today, the dollar index ended the week higher...

 

Crude tumbled on the week as Copper and PMs largely trod water...

 

Cryptos ended the week lower once again (despite a solid jump early in the week)...

 

Finally, don't forget, there was a Black Friday before Black Monday...