Overheard in Philadelphia and on every mainstream business media outlet today…
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Stocks did not go up today…
Worst day in a month for The Dow…
The bounce off the Brexit lows appears to have stalled – can The fed save us?!!
As AAPL leaked lower on downgrades…
Oil weighed on stocks…
As did USDJPY (despite an idiotic bounce on spurious Nikkei headlines)…
But VIX was smashed to a 12 handle at 330pmET to generate some momentum into the close…
Note that S&P Futs were twice ramped to VWAP…
The USD Index slipped very modestly lower today (despite a big tumble in the Loonie) as JPY strengthened notably…
USDJPY slid notably lower (despite the Nikkei bounce)…
A relatively ugly 2Y auction (ahead of this week’s FOMC) sparked underperformance at the short-end with the long-end practically unch – very small range today…
Commodities were a mess with crude tumbling, copper and silver getting smashed (the latter bouncing back) and Gold quietly rolling along…
Pushing crude to 3-month lows…and unchanged on the year…
And Silver roundtripped before drifting lower after Europe’s close…
Charts: Bloomberg
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