Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Read Full Article At The Original Source

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

It appears Friday’s “goldilocks” jobs data has not cheered the bond and FX traders as much as the equity algos after all…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Maybe – bearing in mind last December – it’s time to leave ‘the game’ for now…

China stocks were mixed, not enjoyng any lift from US exuberance on Friday…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

European stocks were all lower on the day led by Italy…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

US markets were also all lower today with no trade-hype headlines to save the day – Nasdaq (AAPL) was the laggard as Small Caps managed to relatively outperform…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Very weak close for stocks.

The S&P found support at VWAP overnight but the opening ramp was quickly faded as Europe closed and really never recovered…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

VIX was significantly higher today, topping 15.50

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Notably, the machines attempted a short-squeeze today but it didn’t ignite the momo…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Small moves today but cyclicals underperformed…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Treasury yields were mixed today with the short-end around 1bps higher and long-end around 1bps lower…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

The yield curve has continued to flatten since the payrolls print…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Notably the last few days have seen the market price out a significant amount of easing for the next year…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

The dollar fell for the 6th day in the last 7 – erasing much of Friday’s jobs spike…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Yuan fell notably overnight but found support at the fix…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Cryptos are modestly lower from Friday’s close with two significant legs down today…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Copper had a big day, oil was lower as OPEC hopes faded and PMs were flat…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Copper futures pushed up to their highest since July…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

In fact, if copper (relative to gold) was right, then 10Y Yields should be 20-25bps higher…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

Finally, it appears Elizabeth Warren’s Tax-the-Everything-&-Everyone Plan jumped the shark as she is now in 4th place (in betting markets) with Biden re-accelerating…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

And while the volume of negative-yielding bonds in the world has fallen, gold has held its value as bitcoin has slipped lower…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

And 2019 is 2013…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg

…for now…

Stocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike

Source: Bloomberg


Tyler Durden

Mon, 12/09/2019 – 16:01

Share:

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About HEDGEaccordingly.com