dinsdag 30 mei 2017

VIX Jumps As Yield Curve Dumps To 7-Month Lows

Macro data, the dollar and the yield curve are 'breaking bad' so when does the Walter White market die? Another day, another set of dismal data (with soft data's dump continuing)...


But The Nasdaq was bid (up for the 8th day in a row), because the real economy doesn't matter and buying safe-haven 200x P/E stocks is the new normal (Small Caps had a tough day)...


Ugly day for the big banks as bond yields tumbled (all of which are down 2 to 4% in May)...


Amazon topped $1000 for the first time ever at the open...


Better just hope the G3 keeps printing...


After 7 straight down days, VIX actually ended higher on the day (despite fading lower from the US cash open)...


For the month of May, Nasdaq remains the winner and Small Caps the biggest loser...


Treasury yields dropped on the day (and all but 2Y remain lower on the month)...


The Long-end outperformed (with 30Y yields closing at 6 week lows)...


And the yield curve has crushed to pre-Trump level...


And even the short-end has given up on the Trumpflation trade...


The Dollar Index ended the day unchanged from yesterday and unchanged from Friday's close (despite some volatility). The dollar slid as bond yields dropped...


Yen was strongest and CAD weakest against the Dollar today...


The Peso was the worst on the day after disappointing local elections...


Crude trod water around $50 while NatGas crashed to 10 week lows...


While the dollar index slid all day, gold had a tough day (even as silver gained)...