Missiles & Minutes Spark Bond Bid As Stocks Skid

No good reason… just made me laugh…

[youtube https://www.youtube.com/watch?v=ZomwVcGt0LE]

As always, the US cash open sparked a buying panic sending stocks into the green after concerns overnight on Airstrike warnings and Trump’s tweets but any relief from Trump’s subsequent more-diplomatic tweet was lost as stocks rolled over hard.

Futures show the action best…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Small Caps managed to hold on to some gains today…NOTE – look at the disjointed nature of the moves on the afternoon downleg…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Facebook squeezed higher again…

Missiles & Minutes Spark Bond Bid As Stocks Skid

But most of the FANGMAN stocks ended lower…(NFLX – black, and FB – red ended higher)

Missiles & Minutes Spark Bond Bid As Stocks Skid

But banks were battered…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Once again, bonds and stocks have decoupled…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Treasury yields were broadly lower (2Y unchanged) with the long-end outperforming…

Missiles & Minutes Spark Bond Bid As Stocks Skid

30Y Yields were back below 3.00%…

Missiles & Minutes Spark Bond Bid As Stocks Skid

And the yield curve tumbled to fresh 11 year flats… (2s10s hit a 45bps handle)

Missiles & Minutes Spark Bond Bid As Stocks Skid

The Dollar was heading for freefall until it was rescued momentarily by hawkish fed minutes…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Both the Ruble and Lira ended the day higher after early plunges…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Cryptos had a big day with Ethereum now up around 15% since Friday’s close…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Crude rallied once again -as geopolitical concerns trumped fundamentals as production and inventories rose – and despite dollar gains after Fed Minutes, the rest of the commodity space held gains…

Missiles & Minutes Spark Bond Bid As Stocks Skid

Overall, geopolitics took gold and oil up, Powell took gold down along with stocks…

Missiles & Minutes Spark Bond Bid As Stocks Skid

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Author: HEDGE

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