Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Just because it makes me laugh…

[youtube https://www.youtube.com/watch?v=ZvEE3_mBzi8]

The Great Fall Of China continues…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

European stocks limped lower on the day…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

But US Stocks miraculously bounced at the cash open once again…but ended ugly with only Nasdaq holding gains…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

S&P and Nasdaq remain shy of their record highs… (nasdaq up 7 days in a row – longest streak since March)

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

FANGs held their gains…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Tesla bonds gave up yesterday’s exuberant gains… and the stocks dropped over 2% as Softback talks have failed and headlines that the SEC is investigating Musk hit…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Treasury yields went absolutely nowhere today – not something we can remember seeing…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

But yields remain 2-3bps higher on the week…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Italian bonds tumbled (price) as Di Maio threatened Brussels with more of the same tough tactics in budget negotiations…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Another intraday reversal for the dollar index which ended lower…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Offshore Yuan was relatively well behaved, hugging the fix but ending very modestly weaker…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

For once the Turkish Lira was calm (only falling 1%) as Turks met US officials in Washington, but Argentina’s Peso started to plunge again… (ARG Bond yields spiked 25bps to over 9% and MERVAL dropped over 4%)

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

And the Russian Ruble tumbled most since April to its weakest since Nov 2016 (election)…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

But the move of the day goes to the Loonie which plunged on headlines that the Saudis would be dumping Canadian assets (as retaliation for poking their nose in the kingdom’s business), but then decided that this was great news and the canadian dollar exploded higher…WTF!

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

No wonder they call it the loonie.

But cryptocurrencies were crushed again…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

PMs and copper managed modest gains as the dollar limped but crude was crushed…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

WTI has now traded in a narrow $3 range for just under a month…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble

Finally, we note that gold is now at its cheapest relative to stocks in 11 years…

Nasdaq Bounces But Dollar, Ruble, Cryptos, China, Tesla, Italy, & Crude Crumble
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Author: HEDGE

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