Zuck, Xi, Mueller, & Missiles Spark Stock Slump, Bitcoin Jump, Bank & Boeing Dump

Thank fuck that's over...

 

Take your pick of the headline chaos today - from China (delaying deals), Comey (book bullshit), Rosenstein (recusal and rumors of being fired), Mueller (no fucking idea), Syria (US moves another ship into Med, Syria threatens response), and Russia (proof UK was responsible for chemical attack); to Fed speakers (worried about the yield curve's flattening) to slumping sentiment (UMIch tumbled most in 18 months) - and stocks slid after a strong week...

 

Futures markets show the dramatic swings more completely...NOTE The Dow and S&P closed back below the ledge from last week when Trump demanded $100bn in tariffs...

 

Stock tumbled late in the day today, but were duly rescued by the standard VIS crush into the close.. because why wouldn't you dump protection ahead of a weekend loaded with the possibility of a Trump Tomahawk Tirade...

 

The Big Banks were ugly today after everyone proclaimed their earnings were awesome...

 

And The Small Banks continues to underperform along with the yield curve...

 

Boeing dumped after headlines on Russian retaliation...

 

On the bright side, pot stocks jumped...

 

Bonds and Stocks decoupled on the week...

 

Treasury yields were higher on the week but the long-end dramatically outperformed...

 

Which sent 2s30s curve to a new 11 year flat...its down 16bps since The Fed hiked rates...

 

And 2s10s is now holding well below 50bps...

 

 

The Dollar Index fell after two weeks of gains to its lowest weekly close in two months...

 

Of course it was a big week for the Ruble...

 

The Turkish Lira also crashed early in the week only to be rescued...

 

Cryptos had their best week in 4 months as it appears the tax overhang is lifting...Ripple was up 50% on the week!! (best since Dec 2017)

 

Most commodities managed to eke out gains on the week but WTI Crude soared to its highest since Dec 2014...

 

Finally, we note that it appears all the hype and hope in the survey data is starting to collapse back to reality...

 

 

Comments

Exponere Mendaces lester1 Fri, 04/13/2018 - 19:20 Permalink

The market doesn't give two shits what you think, you irrelevant fossil.

Bitcoin is doing just fine, and it will hit six digits after the next halving in 2020.

Don't understand what I said? Of course not, your only exposure to crypto is when you're sticking your chip-and-pin card into the reader slot at Target.

You're not mentally equipped to handle technological progress, much less a new asset class -- and it shows.

 

In reply to by lester1

Consuelo Fri, 04/13/2018 - 16:48 Permalink

'On the bright side, pot stocks jumped...'

 

'Some things in life are bad
They can really make you mad
Other things just make you swear and curse
When you're chewing on life's gristle
Don't grumble, give a whistle
And this'll help things turn out for the best

Aind.... Always look on the bright side of life

Wooo-woo, woo-woo-woo-woo-wee-doo

Always look on the light side of life'

bunkers Fri, 04/13/2018 - 21:07 Permalink

Zuck has been selling FB stock before this testimoney.

FB stock is about to have a death cross... The 50 day moving average is about to cross over the 200 day moving average.