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Crypto Crashes, Black-Gold Bid, & Lira Lifted As Yields, Stocks Shrug

DATE POSTED:October 23, 2019
Crypto Crashes, Black-Gold Bid, & Lira Lifted As Yields, Stocks Shrug

Once again, bonds were dumped and every effort was made to pump the S&P back above 3,000 (again)...

 

Chinese stocks were weak overnight...

Source: Bloomberg

European stocks were mixed with Germany's DAX leading and UK's FTSE lagging on the week...

Source: Bloomberg

US equity markets were unable to make any progress today, losing early gains (but managed a small gain into the close as The Fed unveiled even bigger repo operations)...

 

US Futures markets were chaotic again overnight - panic-puked at the Japan open (mirroring the panic-bid the previous night)...

 

Boeing and Caterpillar initially whacked Dow futures but were miraculously bid (until the EU close after which stocks faded)...

 

Algos were once again focused on getting S&P back above 3,000...

 

Another day, another short-squeeze...

Source: Bloomberg

Momo was dumped once again...

Source: Bloomberg

Bank stocks continue to outperform but have decoupled from the yield curve...

Source: Bloomberg

Treasury yields ended the day practically unchanged, roundtripping from overnight bond buying to selling during the US day session...(NOTE - same pattern for 3 days)

Source: Bloomberg

30Y Yields returned to unchanged on the week...

Source: Bloomberg

The market is now almost entirely convinced that The Fed will cut rates next week... and The Fed never lets the market down at this level of certainty...

Source: Bloomberg

The dollar ended the day weaker after overnight gains were erased late-on...

Source: Bloomberg

Offshore Yuan surged to 2-week highs...

Source: Bloomberg

The Turkish Lira spiked after Trump lifted sanctions...

Source: Bloomberg

Cryptos were smacked three times in the last 24 hours...

Source: Bloomberg

Bitcoin broke below $8000...

Source: Bloomberg

Testing down to its 200-day moving-average...

Source: Bloomberg

Copper and Crude surged today as PMs largely flatlined...

Source: Bloomberg

And aside from the surprise crude inventory draw, WTI surged above $56 on the back of Dennis Gartman's short positioning early on...

 

Gold tested up towards $1500 once again but failed to cross it...

 

Finally, the SMART money flow continues to diverge (weaker) than the market...

Source: Bloomberg

And then there's this - Warren leaking lower as Hillary's odds surge...

Source: Bloomberg

Tyler Durden Wed, 10/23/2019 - 16:01 Tags Business Finance Technology Internet