VIX has now fallen for 6 of the last 7 days (from an 18 handle to a 12 handle) and until today's mega-merger excitement, stocks went nowhere. Today's gap up open lifts S&P and Dow back near unchanged on the month. Gold and Silver are spiking as crude slides back near $50. Treasury yields are modestly higher (and the curve steeper) on the day.
VIX smashed to a 12 handle…
With S&P futures testing back up to their 50DMA…
Pushing stocks back near unch for the month…
Bonds are being sold modestly with the long-end leading the weakness…
Will WTI hold $50 again?
Meanwhile, PMs are bid…
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