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“Investors” Panic-Buy Bankrupt Companies, Big-Tech, Bonds, & Bullion

2020-06-09_11-17-22
“Investors” Panic-Buy Bankrupt Companies, Big-Tech, Bonds, & Bullion

Tyler Durden

Tue, 06/09/2020 – 16:01

Buy all The Things! That’s the message from the markets today…

Bankrupt (with equity worth ZERO), buy it!

Source: Bloomberg

Big Tech (at record valuations amid plunging EPS expectations), buy it!

Source: Bloomberg

Biotechs (a 10-bagger on the day on reports that company has approached the FDA over treatments for e-coli infections)…

Source: Bloomberg

Bonds (but but but last week everyone said inflation was imminent and yields were going to the moon because “v-shaped” recovery), buy ’em!

Source: Bloomberg

Bullion (but but but who needs safe havens when The Fed has yr back), buy it!

Source: Bloomberg

It’s all an utter farce and Jay Powell’s malarkey (and the rest of his liquidity-spewing pals around the world) is at the heart of it…

Source: Bloomberg

There’s one way this ends…

Nasdaq (blue) was panic-bid as soon as the cash market opened and while the other indices opened lower they were immediately bought also…Small Caps (red) lagged on the day – this is the first down day for S&P 500 in June! do not panic!

Nasdaq 100 (and Composite) topped 10k for first time but couldn’t hold it…

AMZN and AAPL hit record highs sending FANGs ever higher…

Source: Bloomberg

There is one thing that is being sold…

The USDollar was dumped for the 9th straight day (11 of last 12 days down)…

Source: Bloomberg

Momentum and Value factors reversed their recent quant-quake trend today…

Source: Bloomberg

Railroad stocks are soaring as rail traffic collapses…

Source: Bloomberg

VIX and stocks have decoupled this week…

Source: Bloomberg

And the VIX decoupling is being driven by Call-buying (levered longs), not hedges…

Source: Bloomberg

Treasury yields tumbled for the second day…

Source: Bloomberg

With the yield curve seeing its biggest 2-day flattening since mid-April…

Source: Bloomberg

Wondering why bonds are suddenly bid? Well, they are once again at a positive currency-hedge yield for foreign investors…

Source: Bloomberg

While the dollar dropped and gold gained, silver ended the day red…

Source: Bloomberg

Bitcoin ended the day very slightly higher after a crazy move overnight…

Source: Bloomberg

Oil prices were higher with WTI back up to $39 ahead of tonight’s API inventory data…

And finally, stocks ain’t cheap!! So buy ’em…on margin!!

Source: Bloomberg

Continue reading at ZeroHedge.com, Click Here.

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