After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

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After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

“home on Thursday”, “home on Friday”, small-deal, no-deal, mini-deal, skinny-deal, “meet with Trump on Friday” – all sent US equity markets flying overnight but when Trump talked of meeting Liu He in The Oval Office, markets got very excited.

Chinese stocks rallied overnight with the small-cap, tech-heavy indices dramatically outperforming…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

European stocks ended higher, helped by Trump’s tweet…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

 

Futures show the utter carnage of the overnight chop in US markets…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

And in context some key technical levels…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

All US Majors were higher on the day after Trump’s tweet…Trannies are back in the green for the week…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Very late on we got headlines of a deal coming BUT smaller than expected…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Odds of a (major) trade deal lifted very modestly today…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

 

Cash equity markets chopped around their key technical levels all day…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

 

Momo was very choppy today…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Dramatic short-squeeze at the open and again in the afternoon…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Global bank stocks are worth keeping an eye on…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

VIX tumbled to a 17 handle…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Treasury yields were notably higher again on the day, rising around 7-8bps across the curve…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Pushing 30Y Yields back above 2.15%…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

The Dollar dropped near 3-week lows today…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

As Yuan exploded higher overnight (a 7 handle spike at one point)…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Cable soared on optimistic Ireland headlines…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Cryptos drifted lower today…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Commodities were mixed given the dollar weakness – oil and copper rallied, PMs were slammed…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Gold traded back below $1500 even as ETF holdings reach record highs…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

WTI rallied on chatter about extended, deeper OPEC production cuts

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

Softs sold off after WASDE forecasts (led by corn), heading for worst week since May…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic

Source: Bloomberg

And finally, US CEOs are signaling an imminent recession…

After Overnight Chaos, Trump Trade Tweet Sparks Stock Buying-Panic


Tyler Durden

Thu, 10/10/2019 – 16:01

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Author: HEDGE

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