Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Markets move robotically higher, US creates fasteresterest super-computer ever-ever, Tudor’s AI fund outperforms humans dramatically, Durant shows cyborgian features… It’s here…

[youtube https://www.youtube.com/watch?v=_Wlsd9mljiU]

It’s all green, all the way baby…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

VIX tried its best to get back below 12…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Growth dominated value to start the week then factors reversed rapidly on Thursday morning as value dominated growth to end marginally higher on the week…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Wondering why stocks soared seemingly unstoppably this week, no matter what was thrown at them? Simple – it was the biggest short squeeze week in four months…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

In fact, since the start of April, “Most Shorted” stocks have dramatically outperformed the S&P…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

FANG stocks outperformed financials on the week but the last 3 days financials were the big winners…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

But as US bank soared, Italian banks… did not…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Massive divergence occurring between US equity risk, IG risk, and HY risk…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

And while US debt markets’ saw a yield flash-crash which left them marginally higher on the week…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

The biggest story of the week – which CNBC et al. barely even mentioned – was the huge liquidity suck out in US Treasuries on Thursday…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

10Y Yields remained below 3.00% …

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

The yield curve ended practically flat on the week…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Emerging Market debt tumbled back near its lowest since Feb 2016… after a brief dead cat bounce last week…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

But US HY credit markets rebounded notably, even as Emerging Markets plunged…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

The Dollar Index fell on the week for the first time in two months – though the trend is undeniably flat for the last 17 days…(1168, 1170, 1169, 1168, 1169, 1168, 1171, 1173, 1177, 1170, 1171, 1172, 1171, 1172, 1170, 1170, 1170…)

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

EM FX was ugly broadly speaking but as the Argentine Peso plunged today so the Brazilian Real resurged miraculously…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

And in case you wondered – *BRAZIL TREASURY ACTS TO CURB VOLATILITY, NOT FIX PRICES:ALMEIDA

Cryptos ended the week in the green with Bitcoin Cash outperforming and Litecoin the laggard…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Even with the dollar marginally lower, oil still underperformed, as copper soared on supply scares…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Silver notably outperformed gold on the week…back to almost unchanged on the year…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

But $1300 remains bid for the yellow metal…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Once again, just as reality was about to dawn, soft data surveys took off again this week (as hard data faded)…

Thanks To Biggest Short Squeeze In 4 Months, US Stocks Shrug Off EM, EU Entropy

Finally – today was all about the G6+1…ish

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