Dismal China data, 3 North Korea "prepping missiles" headlines and a North Korean "threat" headline – probably nothing…
Chinese economic data plunged overnight – the biggest disappointment to market expectations in 6 months…
Of course, US equity traders bought the fucking dip at the open into the European close, but were disappointed that yesterday’s panic bid never showed up…
The Dow was the only major index to close higher today with Nasdaq worst…
FANG Stocks tumbled after 3 straight up days… (NOTE that the BTFDers were there again at the open)
Yesterday’s high volume panic-buying extravaganza at the close in AAPL did not show up this time…
Financials managed to tag their 50DMA but ended back below it…
Equifax bonds crashed to record lows today…
North Korean headlines drove gold and USDJPY traders crazy today…
Copper’s drop and Gold’s gains are catching down to Treasury’s concerns…
Treasury yields ended the day mixed with 30Y 1bps lower and the rest of the curve 1-2bps higher… still an ugly week though!
30Y yield ended back below the pre-H-Bomb test levels…
The Dollar Index drifted lower today after 3 days up… (NOTE it tagged the pre-payrolls level after CPI and dumped)
Meanwhile, Cable spiked above 1.34 – the highest in over a year – after Carney hinted at rate hikes…
Bitcoin bloodbath’d today, now down 34% from record highs… BTC’s 14% crash (in USD terms) was the biggest since Jan 2015 (when China last tried to crack down on the virtual currency)…
Bitcoin is setting up for the worst 2-week drop since Dec 2013.
It seems hedgers are rotating back to precious metals…
Copper remains the week’s biggest loser as China’s lagged credit impulse starts to impact the real economy and fantasy speculation…
WTI Crude managed to get back above $50 (briefly) but rolled over after NYMEX close…
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September 14, 2017 at 04:07PM
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