A Trump victory has seen the world sell commodities, sell bonds, sell credit, sell foreign exchange, sell gold, buy dollars and buy US banks.
Turmoil has rotated around the world's maket this week… Wednesday saw a developed market bond bloodbath, Thursday saw EM FX and bonds collapse, and Friday saw Commodities clubbed like a baby seal
And even in The Dow itself, just 4 stocks accounted for half the post-Trump gains (GS, CAT, JPM, HD)
The divergence between The Dow's gain and Nasdaq's loss is the biggest since Lehman…
"Most Shorted" stocks are up almost 11% in the last 6 days – the biggest short-squeeze since July 2013…
The S&P is unchanged since pre-election, bonds and bullion down around 4% and the Mexican Peso down over 14%!!
Quite a week for stocks… here is the move in Futures from the pre-election close…
Small Caps rose an incredible 10% this week…(that's 5 times the return of the Nasdaq on the week)
Financials have soared in the last few days – most since May 2009 – to pre-Lehman levels…
But FANGs collapsed (with NFLX worst) – their worst 3-week run since January…
US Treasuries led the developed market bond rout this week (closed today)…the biggest percentage rise in 30Y yield in a week… ever
The long-bond dropped over 5% on the week…
Treasury futures signal a 2-3bps rise in yields today…
EM Bonds crashed to 8 month slows… (worst week since 2013 Taper Tantrum)
The USD Index swung around massively after crashing pre-Trump, back above 99.00 fo rthe 4th time in 2 weeks…
Finally, we remind readers that Stocks and Bonds (closed today with TSY Futs unch) now have the same yield for the first time since Jan 5th…
What happens next?
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