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Sunday, August 14, 2022

Bonds, Big-Tech, Bullion, Bitcoin, & Black Gold All Bid As Dollar & Dimon Dumped

After yesterday's plunge, it was only fair that US equities would rip higher today, right? As a hotter than expected PPI (are we really listening to freaking Delta's outlook to drive the entire market?!!) actually shifted post-hike rate-cut expectations lower (hawkish!)...Market now priced for less than 2 rate-cuts after the 9 rate-hikes this yearThe tumble…

Bonds, Bitcoin, & Big-Tech Battered As US ‘Misery’ Reaches 40 Year Highs

Despite no economic data and minimal fresh news, Tech wrecked again today as yields rose and hawkish FedSpeak abounded. Late in the day, everything puked (all US majors and crypto) on new news catalyst as they broke technical levels. Nasdaq was the ugliest horse in the glue factory while Small Caps 'outperformed' the rest (but…

Bonds & Stocks Battered As Hawkish Fed Flexes, Europe Panics

The reality of a looming recession appears to be striking home for stocks this week as 'Defensive' stocks hugely outperformed 'Cyclicals'...Source: BloombergAfter an exciting start to the week (when Nasdaq spiked and Small Caps puked on Monday as the 'QE trade' kicked back in with 'growth' bid), its been a one way street lower since…

Bonds, Bullion, & Black Gold Bid As Putin Sparks Stock Skid, Dollar Dump

So much for all that 'peace' optimism. Russia's defense ministry stole the jam out of the market's euphoric donut earlier this morning with comments that indicated the war is only just beginning and comments from the peace-talks suggested no progress had been made whatsoever. That spoiled the party (even with a decent ADP jobs print)…

Bonds, Bullion, Black Gold, & ‘Babki’ Jump As Stocks Dump

Perhaps the most notable move in markets today was from the Ruble (the term old woman, babki - бабки, overshadowed other slang names for the Russian currency), which saw its biggest daily gain since Dec 2014 today on the back of Putin's call for all gas payments to be made in Rubles...Source: BloombergThe desperate attempt…

Bonds Battered, Stocks Slide As Powell Channels Volcker; Crude Surges

FedSpeak dominated the market action today in stocks and bonds with a very hawkish and tone consistently narrated by first Raphael Bostic, then Tom Barkin...*BOSTIC SAYS HE'S NOT WEDDED TO ONLY MOVE RATES IN 25 BPS STEPS*BOSTIC SAYS FED SHOULD GET MOVING `QUICKLY’ ON BALANCE SHEET*BARKIN: CAN MOVE AT 50 BP CLIP AGAIN TO TAME…

Bonds, Stocks, & Commodities Crushed Because ‘Putin’

Quick reminder on inflation...Source: BloombergHaving got that out of the way, stocks, bonds, and commodities were all hit hard this week as financial conditions tightened and geopolitical risks surged (mixed with some optimism of a peace deal in there somewhere)... oh and because "Putin" went full 'Leeroy Jenkins' and everyone knows you never go full…

Bonds, Stocks, & Crypto Crumble As Global Financial Conditions Tighten Drastically

The invasion of Ukraine and the events that have unfolded since have changed the outlook materially. A surge in energy prices has triggered a sharp downward revision in growth expectations and has increased the uncertainty over the growth path from here, particularly in Europe, and Goldman notes, has resulted in a shift in the narrative…

Bonds, Bullion, & Black Gold Dumped As ‘Hope-Hammered-Hedges’ Squeeze Stocks Higher

Another day, another hedge unwind-driven, negative-delta inspired meltup in stocks, triggered this time by optimistic headlines (that were really just 'meh' of the same sentiment) on the Ukraine situation.Stocks soared the most since April 2020 today (2 days after the 2nd biggest daily drop since Oct 2020). Nasdaq soared almost 4% today while The Dow…

Bonds & Bullion Bid As Stocks, Crude, & Crypto Crumble

It has been 13 years to the day since Barack Obama called the bottom in stocks. On March 3rd, 2009, President Obama said:"What you're now seeing is profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it,"And since then…

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