Courtesy of ZeroHedge View original post here.
The constant hubbub behind every tiny dip in stocks is simple… a trade deal is close, so remain calm…
Chinese stocks soared overnight…
Source: Bloomberg
European markets started off solid but rolled over into the close, all lower on the week for now…
Source: Bloomberg
US Markets ended higher on the day, smashed higher in the last 30 mins after dropping on less optimistic trade headlines – this is a f**king farce now… The gamma-driven spike faded in the last few minutes…Trannies ended green thanks to the ramp
Source: Bloomberg
The day was spoiled briefly by a late-day headline at 1500ET that *U.S., CHINA REMAIN AT ODDS OVER VALUE OF FARM PURCHASES: DJ – but as the chart below shows, S&P Futs bounced dramatically off VWAP and back to the day’s highs…
WTF!!!!
Notably, despite various “trade deal is close” headline efforts, no short-squeeze was ignited…
Source: Bloomberg
While the odds of a trade deal increased again today…
Source: Bloomberg
Gains were led by Defensive stocks, not cyclicals…
Source: Bloomberg
VIX spiked briefly up to 15 intrday on the late trade headline but vol-sellers piled in after that…
Treasury yields were almost uniformly 2bps or so higher on the day (belly slightly underperformed +3bps). Only 2Y Yields remain lower on the week…
Source: Bloomberg
30Y Yield reversed most if not all of Tuesday’s dive…
Source: Bloomberg
The dollar fell for its 5th straight day to its lowest in a month…
Source: Bloomberg
Dollar and Stocks decoupled the last two days…
Source: Bloomberg
And as the dollar dived, cable soared to its highest in 7 months…
Source: Bloomberg
Yuan jumped back above pre-Trump tantrum levels from earlier in the week…
Source: Bloomberg
Bitcoin outperformed today but all major cryptos remain lower on the week…
Source: Bloomberg
Commodities were remarkably stable today given the dollar’s continued slide…
Source: Bloomberg
All of which would have likely very much disappointed OPEC as their best efforts failed to spark any gains…
Finally, since “Phase One” was completed, China has notably underperformed as Europe and US have magically levitated higher…
Source: Bloomberg
And then there’s this…