There is nothing else for it…
Thanks to the spoofing, stocks soared to record highs after the FOMC Minutes to prove that everything is awesome but then CNBC broke the news that BEA will double-seasonally-adjust GDP data – implicitly enabling Q1 to look better and thus giving Janet more room to hike in June – and stocks sunk…
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Which dragged AAPL up… and thus everything else… until the BEA news…
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On the day, stocks were deadstick until the US Open BTFD and the FOMC/BEA debacle…
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But by the close, Trannies were the biggest losers – worst day since January
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As Airlines crashed….
Leaving stocks mixed for the week…
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Credit remains unimpressed…
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Bond yields leaked lower all day…
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The Dollar trod water all day, with some vol around the European open and a small drop around the minutes.,..
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Commodities were also very dull
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Though Crude bounced around in the last 24 hours on inventory and p[roduction data… Narrow range but look at the swings…
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The bottom line: stocks were so obvioulsy manipulated higher today after FOMC to prove the Fed is right it was disgusting… not just the actual indications of spoofing but the fact that stocks entuirely decoupled from the “DEADNESS” of every other asset class after the minutes hit.
CNBC broke the news that BEA will double-seasonally-adjust GDP data – implicitly enabling Q1 to look better and thus giving Janet more room to hike in June – and stocks sunk…
Charts: Bloomberg
