“Good News Is Bad News” Again – Confidence Surge Sparks Stock, Oil Purge

The hghest current expectations confidence since August 2007 has sparked a moment of turmoil in the markets as USD strength sends stocks and oil reeling. Gold is down modestly and Treasuries are bid with the long-end outperforming (as the yield curve flattens to yet another cycle low)…

Oil’s high beta drop (as the USD jumps) drags stocks lower…

 

The USD has been rising all night but the confidence pront seems to have triggered a reaction in stocks and bonds and crude…

 

Charts: Bloomberg

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