As a reminder, here's what happened in 2017 when Trump shot missiles at Syria...

And here's what happened this time...

Missiles were dropped...

Correlations broke everywhere today...

 

Trannies were flying today - up 2.4%!!!! but for the major indices, it was all about the overnight action that drove the main thrust of gains...Stocks went nowhere from the European close...

 

Futures show the gap open on Sunday night and retest of Friday's highs...Futures closed the day session around the same levels as they opened on Sunday night..

 

Machines dragged The Dow up to run yesterday's high stops and the 50DMA... but then it rolled over...

 

The S&P 500 managed to clamber back into the green for the year (2673.61) and test its 50DMA...

 

VIX dropped back to a 16 handle...

 

Mixed picture for bank stocks with BofA higher on earnings but still down from Friday's pre-open banking earnings drop...

 

NFLX was lower (ahead of earnings) among the FANGMAN stocks...

 

While stocks loved the missile strikes, bonds did not...

 

Treasuries were mixed on the day...but rallied throughout the US day session

 

But the 30Y rallied from the US open to end the day unchanged...

 

Driving the yield curve back down to its flattest since Oct 2007... (and 2s10s dropped below 45bps)

 

The Dollar Index slipped back below Friday's lows...

 

The Ruble spiked after WaPo headlines claiming Trump has halted Russian sanctions...

 

Cryptos slid on the day but are marginally higher from Friday's close... (with Bitcoin holding around $8,000)

 

The apparent demise of geopolitical fear prompted selling pressure in crude but PMs rallied on a weaker dollar...

 

Another disappointing data for macro data enthusiasts...