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Stocks Surge To Best Start In 30 Years; Bitcoin, Bonds & Dollar Battered

 

Stocks Surge To Best Start In 30 Years; Bitcoin, Bonds & Dollar Battered

Courtesy of Zero Hedge

Just "buy" – everyone else is… what could go wrong?

It's been an interesting year so far… equities are unstoppable, the dollar is tanking, gold is soaring, and bonds are tumbling…

This is easy… US Equities have 'suffered' only one down day in 2018 so far (in fact Trannies haven't seen one down day)…

BTFD!!

 

Putting this move in context:

  • Trannies best start to a year since 1983
  • S&P best start since 1987
  • Dow best start since 1997
  • Nasdaq best start since 2004

"Never gonna let you down"

The Dow is up 1060 points in 2018 – 5 names account for more than half those gains (BA, CAT, IBM, MMM, and UTX added 555 points!)

VIX traded back above 10 today again, rising with stocks, and VIX has entirely decoupled from stocks…

Banks had a good week (despite dismal earnings) but Wells ended red…

Facebook took the shine off Nasdaq a little today, tumbling after Zuck's censorship comments…

But thanks to panic-buying in NFLX and AMZN, FANG Stocks exploded higher off-the-lows today…

And while stocks are surging, Treasuries are tumbling – suffering the biggest total return loss since 2006… (worst 2 week drop in 3 months)…

Yields ended the week higher across the curve, but look at the strength in the long-end the last 3 days…

After steepening dramatically after the China headlines, the yield curve collapsed back flatter to end the week unchanged…

2Y Yields topped 2.00% for the first time since Sept 2008…

2Y Yields are now 18bps higher than the dividend yield of the S&P 500…

High yield bonds had the worst week in the last 6, decoupling from stocks…

The dollar plunged most since March 2017 today to the lowest in 4 months… (5th week down in a row)

One wonders if this is the short-term low?

Cryptos have had a volatile start to the year with Bitcoin, Ripple, and Litecoin all holding around unch while Ethereum is up 65%…

This week saw Ripple crash 30%, and Bitcoin dropped around 19% – the worst week since Jan 2015…

The last few years have seen Bitcoin show seasonal tendency to drop into mid-to-late January before picking up into the summer…

In commodity land, copper ended the week lower but Crude and PMs surged today as the dollar collapsed…

Gold surged today – its best day since August – and is up 5 straight weeks…Gold futures hit $1340 for the first time since September 14th…

Normalized for vol, gold has decoupled higher relative to bitcoin…

WTI Crude bounced back above $64 today as the dollar plunged…

And Spot Palladium surged to a new record high…

Bonus Chart: All-In Bitches!!!


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