And like that, the bond vigilantes were gone…
Chinese stocks jumped happily celebrating China’s new easing plan…
But FX didn’t! For some context of just what is going in the rest of the world outside FANG stocks, the Chinese currency has crashed more in the last 30 days than at any time in history aside from Lehman and the Great Financial Crisis…
The Dow and S&P managed gains, Nasdaq gave up all its GOOGL gains, and Small Caps and Trannies tumbled…
GOOGL’s big beat prompted a bid in all the FANG stocks and sent Nasdaq futs soaring, but while Nasdaq spoiked a little more at the cash open, it was sold pretty much all day…
FANG stocks spiked above pre-NFLX levels (on GOOGL), but faded the rest of the day…
Nasdaq hit an intraday record high before tumbling back into the red…
Nasdaq futs really tumbled as the US market opened…
Trannies broke back below their 50DMA…
Tesla stock price started aggressively catching down to it lagging bond price (and its newly minted CDS)…
Bonds and stocks were perfectly in sync today after bond yields caught up…
After a two-day bloodbath, sellers suddenly abated (as if this was merely rate-locks and repositioning ahead of this week’s big calendar)…
The long-end outperformed the short-end but all the moves were very marginal… the yield curve flattened modestly…
The Bloomberg Dollar Index leaked lower on the day…
Offshore Yuan fell again, finding resistance at the Fix…
The Turkish Lira crash back towards record lows after the central bank unexpectedly kept rates unchanged…
Cryptos were up broadly on the day with Bitcoin notably outperforming…
With Bitcoin breaking above $8,000 to 2-mo highs…
Between China’s easing plan and a slightly weaker USD, commodities all rallied with Copper the biggest gainer (“proving the global economy is recovering”!!??)
Finally, we thought some might be interested to know that it now costs $2mm to insure $10mm of Tesla bonds against default…
The post Stocks, Bonds Shrug As Bitcoin Jumps, Yuan Dumps appeared first on crude-oil.news.