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Stocks & Bonds Shrug, Gold & Dollar Jump Amid Worst Macro Malaise In Over 2 Years

Courtesy of ZeroHedge View original post here.

While stocks and bonds ended modestly higher on the day, it was gold (and oil) and the dollar that were notably higher (unusually together)…

Source: Bloomberg

And the stock and bond markets shrugged off the biggest Fed liquidity injection yet…

Makes you wonder what's really going on under the surface…

Chinese stocks ended higher overnight after two liftathons…

Source: Bloomberg

European markets broadly rallied on the day but UK's FTSE slipped lower…

Source: Bloomberg

Nasdaq outperformed on the day while the S&P, Dow, and Small Caps scraped along around unch…

3,000 was once again defended in the S&P 500…

Notably The Dow dived at the US open and erased the Fed liquidity pump rally at last night's close, before bouncing back…

Twitter was twatted…erasing almost the entire year's gains

But Tesla soared (but was unable to hold above $300)…

Momo broke a 7 day losing streak and popped most since Oct 1st today…

Source: Bloomberg

Source: Bloomberg

Treasury yields were very volatile intraday today but for the second day in a row – ended pretty much unchanged across the entire curve…

Source: Bloomberg

One glimpse at the swings in 30Y Yields and you could be mistaken for thinking its a penny stock (three 4bps spikes intraday)…

Source: Bloomberg

Treasury vol is starting to catch down to equity vol…

Source: Bloomberg

Housing data has been disappointing as mortgage rates have risen recently but notably mortgage spreads to Treasuries has blown out to its widest since 2015…

Source: Bloomberg

As Bloomberg notes, whether this is enough to compensate for a plethora of concerns, such as higher prepayment speeds in the more recent loans, a Federal Reserve that’s no longer actively purchasing mortgage-backed securities and increased rate volatility, remains to be seen.

The Dollar bounced off unchanged for the week to Friday's highs…

Source: Bloomberg

EUR was chaotic but ended lower amid Draghi's last stand…

Source: Bloomberg

Cable slid from early in the US day as election chatter loomed, bounced on Johnson's call (off the key 1.28 level), then slipped on Corbyn's rejection…

Source: Bloomberg

Crytpos managed modest gains after yesterday's bloodbathery…

Source: Bloomberg

Bitcoin flatlined at multi-month lows today…

Source: Bloomberg

Despite dollar strength, commodities were broadly higher on the day…

Source: Bloomberg

WTI extended its recent gains, pushing above $56.50 (and above the pre-Saudi-attack levels)…

Silver surged back above what appears to be key resistance…

And gold futures bounced back above $1500…

Gold also gained against the yuan…

Source: Bloomberg

Finally, while stocks are holding up near record highs, we note that October is currently the weakest (most disappointing) month for US macroeconomic data since April 2017…

Source: Bloomberg

So did we escape the 1987-analog? Will 2013 pathe the way to new highs?

Source: Bloomberg

 


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