dinsdag 16 mei 2017

Dollar Slumps To 6-Month Lows As Stocks Do Something They Haven't Done Since 1969

The Dollar is down 5 days in a row - today's drop is the biggest since Trump commented on the "too-strong" dollar two months ago. This move has now erased all the gains since the election...


This is the longest period of calm for the S&P 500 since 1969...


And that is happening as US macro data crashes to one-year lows. This is the biggest crash in macro data since March 2015...


It appears we're gonna need more OPEC/Russia jawboning (ahead of tonight's API inventory data)... and that weighed down stocks today...


NASDAQ outperformed (new record highs), Small Caps were panic-bid into the close and The Dow clung to unchanged. Buy The F**king Shitty Data Dip?


Who could have seen that coming? Year-to-Date; presented with no comment...


Notably we dipped pretty hard in stocks after weak hoiusing data and McConnell comments sent the USD lower (USDJPY lower) but dip-buyers rejoiced...


VIX closed higher (marginally) as every effort was made to keep S&P above 2,400. The VIX range for the last 4 weeks has been 11.2 to 9.6 and S&P 500 range from 2380 to 2405...


The 17th day in a row that VIX closed below 11, NEVER HAPPENED BEFORE...


Ford managed only modest losses despite announcing a 10% gutting of its workforce...


Treasury yields dropped, erasing yesterday's moves...


With 30Y back below 3.00% again...


EUR strength was the big drag on the USD index...


With EURUSD now at its highest since Trump was elected...


USD weakness spurred another up-day for precious metals (up 5 days in a row)...