With the stock markets vertical drops and pops this week, the following just seemed appropriate…
Since The FOMC Minutes, the long bond is leading the way with stocks, gold, and oil lower…
Post FOMC – Nasdaq and Small Caps led the gains with Dow the biggest loser…
Despite the best efforts to keep the S&P green for the week (with VIX slammed)…
The Dow closed red for the 4th week in a row – the longest losing streak since Oct 2014's Bullard Bounce lows…
The Dow was the week's underperformer as Trannies surged over 2%… Nasdaq broke its 5 week losing streak with AAPL up 5%!!
But Futures shows the chaos of the week…
Massive redemptions hit high yield credit markets again (yesterday was the largest daily HYG outflow ever!)
Treasury yields rose across the complex this week but 30Y notably outperformed…
With 30Y outperforming post-FOMC…
With 2s30s flattening a dramatic 5bps…
The USD Index flatlined today but ended the week up 0.7%…
The strong dollar weighed on commodities but crude rallied on the week.
Don't forget – it's OPEX!
Charts: Bloomberg
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