Another day, another record high…
Video length: 00:00:02
To begin – ‘Murica, fuck yeah!!
North Korea headlines and ‘John Taylor For Fed Head’ headlines prompted some turmoil in FX markets, bond markets, and commodity markets… but stocks didn’t even blink…
Trannies were worst with Small Caps clinging to unch but GS, AAPL, JPM, and TRV accounted for 100% of the points gains in The Dow…
The machines really wanted Dow 23,000 amid a very chaotic day in VIX land today…
Small Caps continue to tread water… (1509, 1511, 1508, 1512, 1510, 1504, 1508, 1507, 1505, 1503, 1502) even as earnings expectations tumble…
Bank stocks soared today – loving the collapse in the yield curve…
Healthcare stock were hit again on Trump’s “Getting away with murder” comments…
Treasury yields rose on the day but notably bear flattened with the front-end drastically underperforming…
The Dollar Index rallied on the day led by AUD and CAD weakness (odd on a strong commodity day) and cable tumbled on May’s comments…
WTI Crude (and Brent) surged overnight to 2-week highs on Iraq ‘invasion’ headlines but WTI was unable to hold above $52…
Gold’s bounce after CPI last week – extending its post-Golden-Week gains – stalled today after John Taylor headlines…
Copper made headlines – hitting a 3 year high, surging after China’s Golden Week holiday ended and ahead of this week’s National Congress to prove everything is awesome in the red ponzi…
Which as we noted earlier – raises the question – is copper overdone or do 10Y Yields need to explode 75bps higher…
