Another day, another short squeeze…
[embedded content]
Today’s bounce bought to you by the fact that traders forgot that Europe will open again in a few hours…
It’s probably nothing…
Post FOMC Minutes, bonds and stocks were bid, crude and gold sold modestly…
VIX was monkeyhammered lower in a desperate bid to get the S&P 500 back to 2,100…BUT FAILED!
But Nasdaq outperformed (another major short squeeze) with Trannies underperforming (presumably on the disaster in trucking)…
Post-Brexit, Trannies and Small Caps remain laggards…
The long-end managed a small gain on the day as the short-end of the Treasury market sold off in unison starting at 8amET… 10Y yield hit a new record low at 1.3180% and 30Y at 2.0971%
Bonds and Stocks remain bid…
The USD Index leaked lower with GBP and JPY the most active once again…
Commodities were mixed despite the lagging USD. Copper lagged, PMs rallied holding gains post-FOMC, and crude jumped for no good reason at all…
Gold and Silver keep running…
Charts: Bloomberg
powered by sue.ng a legal search engine