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Stocks Soar After MidEast De-Escalation Sparks Crude Carnage, Bond Bloodbath

Courtesy of ZeroHedge View original post here.

Update: We note in the last few minutes of the day there were reports of rocket strikes in the Green Zone in Baghdad and that sparked some notable derisking into the close.

As Sven Henrich tweeted: “Do the guys that launch rockets consult technical charts?”

Does make you wonder?

*  *  *

From WW3 to Record Highs in 12 hours… missiles flew and so did tweets and now “all is well” again… Dow futures are up 700 points from overnight lows…

Nasdaq futures exploded a stunning 300 points off the lows…

For context, that’s a 3.3% rally from overnight lows for Nasdaq futures…

The S&P 500 and Nasdaq surged to a new record high.

Quite a ride – makes you think…

Chinese stocks were down overnight, but closed before the tensions de-escalated…

Source: Bloomberg

European markets opened ugly amid the escalations but ramped all the way back and then some during the day (except UK)…

Source: Bloomberg

In the US, stocks soared – almost back top unch by the open and then as Trump spoke everything exploded…Trannies and Nasdaq outperformed…

A squeeze at the open and into the European close was enough to ignite the momo…

Source: Bloomberg

Notably, Defensives dominated Cyclicals intraday…

Source: Bloomberg

AAPL soared intraday (again) to a new record high as it seems the buyback machine is bidding for any dip…

But AAPL’s vol remains notably decoupled from the price…

Source: Bloomberg

Meanwhile, Tesla continues to soar illogically becoming the most valuable US carmaker EVER (surpassing GM’s 1999 record high)…

Source: Bloomberg

VIX was monkeyhammered back to a 12 handle and VIX futures crashed from over 17 overnight to a 13 handle…

But while VIX tumbled it remains notably decoupled from credit protection costs which have collapsed…

Source: Bloomberg

Total chaos reined in bond land overnight with yields crashing on the missile strike and exploding higher as tension apparently eased (yields ended the day around 4-5bps higher but that hid the dramatic moves)…

Source: Bloomberg

The 10Y Yield rose a stunning 17bps off overnight lows (one-month lows)…

Source: Bloomberg

Source: Bloomberg

The Dollar pushed higher to 2-week highs…

Source: Bloomberg

While most markets are pricing out geopolitical risk or any safe-haven premia, we note that the Swiss Franc is in great demand, soaring to its strongest against the euro since April 2017…

Source: Bloomberg

Offshore Yuan plunged overnight as the missiles struck only to rebound back to the highs..

Source: Bloomberg

Cryptos remain notably higher since Soleimani’s death but gave back overnight gains today…

Source: Bloomberg

Bitcoin spiked up to $8500 overnight, but faded back as tensions de-escalated…

Source: Bloomberg

Copper was flat but overall commodities were lower on the day…

Source: Bloomberg

Gold (in USD) spiked above $1610 overnight before falling back..

Gold in JPY reached its highest since January 1980…

Source: Bloomberg

And Gold in Euros reached a new all-time record high…

Source: Bloomberg

Not to be outdone, Palladium spiked above $2100 overnight, a new record high…

Source: Bloomberg

And finally, oil… which exploded higher overnight, has collapsed as tensions de-escalated…

WTI topped $65.50 overnight only to crash to $59.15…

Brent spiked near $72 overnight, only to crash back below $65…

Source: Bloomberg

Brent is mirroring – almost perfectly – the move after the Saudi refinery attack… (today’s drop is the biggest since the day after the Abqaiq attack)

Source: Bloomberg

And as the melt-up continues, we wonder if we see Nasdaq 10,000 before this all comes crashing down to reality…?

Source: Bloomberg


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